New support and like a pattern?
The both blue circles look like a pattern, moreover, like an argument to push this pattern, the RSI indicator has left the oversold zone. Therefore it suppose that when this indicator is out ,the pull back has started up.
Yesterday, it looks like the support increased the level to 1357 CNY (orange line), at which we have established it, and now (at the moment of write this) we have a bull candlestick, therefore a new support could be established at the open price of the bull candlestick, around 1403 CNY.
Yesterday, it looks like the support increased the level to 1357 CNY (orange line), at which we have established it, and now (at the moment of write this) we have a bull candlestick, therefore a new support could be established at the open price of the bull candlestick, around 1403 CNY.
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