RUNE is trading near strong former support which is now acting as a resistance.
Strong support/resistance static line with several hits (7 times ) is shown on the chart by thick red line. This static line supported the price for 5 times before breaking down. After break out , RUNE has found a new support and currently is at mentioned line again and may develop a valid pull back.
Rejection or break out? I myself, give more chance to rejection however, we have to be ready for every scenario.
Both rejection and break out targets are shown on the chart. We need a valid trigger to open a short/long positions at support/resistance zones. As always, we are trying to be unbiased.
Selecting right position , RUNE will brings us nice profit.
Good luck everybody.
Strong support/resistance static line with several hits (7 times ) is shown on the chart by thick red line. This static line supported the price for 5 times before breaking down. After break out , RUNE has found a new support and currently is at mentioned line again and may develop a valid pull back.
Rejection or break out? I myself, give more chance to rejection however, we have to be ready for every scenario.
Both rejection and break out targets are shown on the chart. We need a valid trigger to open a short/long positions at support/resistance zones. As always, we are trying to be unbiased.
Selecting right position , RUNE will brings us nice profit.
Good luck everybody.
