LTC/USD - SHORT

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LTC has started approaching the resistance zone at 49-49.5 USD. It is likely to get rejected from this zone and pull back towards the previous support at 45 USD which is also the 0.236 fib of the “Trend Based Fib Extension”. Stop Loss should be place above the previous wicks at 51 USD.
If TOMO can close few daily candles above the resistance of 49 USD, then it could flip this resistance to support and we can open longs at this new support with a stop loss at 47.5 USD and target 55 USD.
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LTC *
Trend Analysis

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