SKL/USDT (Futures) Potential Downward Movement
Key Resistance Levels: 0.11705, 0.12219, 0.13494.
Key Support Levels: 0.09856, 0.09251, 0.09000.
Daily Time Frame:
The price on the higher time frame is in a clear downward movement where higher lows and lower lows has been posted. Yesterday the market posted an engulfing bearish pattern signaling that the sellers are still in control of the market and might push it further to the downside.
SKL/USDT (Futures) Medium-Term Trend: Bearish
1-Hr Time Frame:
On the lower time frame, the sellers succeeded to break the support level (now resistance) around the 0.10652 USDT mark. A higher correction has been posted and a small inside bar has been left. This could lead to a new bearish impulsive wave toward the target profits.
Sell Market Order @ 0.10652
TP 1 @ 0.09842
TP 2 @ 0.09251
Stop Loss @ 0.11057
Trade Safely 🙂