ZIL: Bullish Momentum Expected Following Falling Wedge

8 Şub

💎ZIL has recently broken out of a falling wedge pattern, forming a W pattern, and is currently consolidating on a bullish Order Block (OB). This consolidation suggests a potential bullish momentum, with expectations of a move towards the next resistance zone around 0.02105.

💎Confirmation of the W pattern and a safer trading opportunity would occur upon a breakout above the 0.02105 level. Such a breakout could pave the way for further upside towards the subsequent resistance levels at 0.02328 and 0.02635.

💎Conversely, a breakdown below the support area of 0.01864 may signal a shift back to bearish sentiment. In such a scenario, we could anticipate a continuation of the downward movement in the price of ZIL.