$MTL, Situation Is NOT GOOD. But We Still Can EARN!

30 Tem 2019

The overall situation is not positive. There is a strong resistance right above the price line, it is located at the 0.0000425 level. The only chance of going higher - break through this resistance. Taking into account the fact that we can see a bearish divergence, everything can be even more difficult. However, there is strong ascending support which increases bulls powers, because every time the price touches one - it rejects sellers and MTL goes upward.

In case the ascending support will be broken, we have one more support below one - horizontal support. The only option to go upward from this horizontal support is to form a double bottom or inverse H&S. Currently, BUY is in priority, at least until the price reaches the resistance.