Trip: ⬇️ Sell
– Trip reversed from the resistance zone
– Likely to fall to support level 16.00
Trip recently reversed down from the resistance zone located between the strong resistance level 18.50 (which has been reversing the price from the middle of last year) and the upper weekly and daily Bollinger Bands.
The downward reversal from this resistance zone stopped the previous intermediate ABC correction (2).
Given the strength of the resistance level 18.50, Trip can be expected to fall to the next support level 16.00 (low of the previous weekly Bullish Engulfing).
Source: Fxpro