Wealth Code ARB
K-Line Pattern:
Recent prices have fluctuated within the range of 0.83 to 0.95, forming a consolidation pattern.
On November 25 and 26, there were long upper shadows, indicating significant selling pressure above.
Technical Indicators:
MACD: The current DIF is close to the zero axis with DEA, and the MACD histogram has turned from negative to positive, indicating a short-term rebound, but the trend is not obvious.
RSI: The RSI value hovers around 60, not entering the overbought or oversold areas, with the market in a neutral to strong state.
EMA: EMA7 (0.8854) has crossed above EMA30 (0.8506), and is far above EMA120 (0.7253), indicating a short-term bearish outlook, while still being bullish in the medium to long term.
Trading Volume:
However, a decrease in volume has occurred near the high level, indicating insufficient willingness to chase prices higher.
Trading Operation: Short at the current price of 0.9242, with a stop loss set at the previous high.
