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Candlestick chart

The chart shows a strong downward trend in recent trading sessions:

  • The current price has broken the support level at the MA line (25), showing strong selling pressure.

  • Bollinger Bands widen, indicating increased price volatility.

MACD indicator

  • The MACD indicator is in the negative zone and tends to continue to decrease, showing that the downward momentum is still strong.

  • Histogram is almost flat, indicating a lack of short-term bullish momentum.

RSI indicator (14)

  • The RSI indicator is at 14.91, very close to the oversold level, indicating a possible short-term recovery.

MFI Indicator (14)

  • The MFI indicator is at 34.76, indicating that money flow out of the market is still there, selling pressure still exists.

Trading volume

  • Trading volume is down, which could indicate a decline in interest from buyers.

Forecasting and Strategy

  1. Possibility of continued decline: With current indicators, the downtrend is still strong, the price may continue to decline to the next support levels. If the price fails to hold the current level and continues to fall below the lower Bollinger Band, the downtrend will be further reinforced.

  2. Short-term recovery: The RSI is at oversold level, there may be a short-term recovery. If the price can increase and close above the MA line (7), this could be a positive signal for recovery.

Note about FED events

The FED is expected to have a press conference at 2 a.m. on June 14 (Vietnam time). The FED's decision on interest rates will greatly affect the market trend:

  • If the FED keeps interest rates unchanged: This could be a positive signal for the market, possibly supporting a short-term recovery.

  • If the FED raises interest rates: The market may experience more selling pressure, the downtrend may continue.

Conclude

Currently, the main trend is down, but there is a possibility of a short-term recovery if the price surpasses the MA line (7). Pay attention to the FED press conference because it will greatly affect the market. Be cautious and consider market signals before making trading decisions.