SKL/USDT (Futures) Long-Term Trend: Bullish
Key Resistance Levels: 0.12887, 0.13480, 0.14244.
Key Support Levels: 0.12193, 0.11457, 0.11115.
Daily Time Frame:
The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a double bottom. The market retraced to the support area where it left a hammer bar with a long wick to the upside. This could lead to a move higher in the coming hours.
SKL/USDT (Futures) Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the buyers to break the bearish trend line to the upside after an inverse head and shoulders formation. A lower correction could be seen to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.
Buy Market Order @ 0.12295
TP 1 @ 0.12887
TP 2 @ 0.13480
Stop Loss @ 0.11705
Trade Safely 🙂