SNOW with a potential short term bounce.

2023年1月5日

Here we are looking at SNOW on the Daily TF.

I would like to draw your attention to the up sloping Yellow trend line.

If the price action closes below this trend line we can expect further downside action.

The next target for SNOW is to the Green support line.

Once the price hits the Green support line, you can look for a couple day bounce possibly back up to the Yellow support line.

Once the Yellow support line is broken and price action comes back up to it, that same support line will then become resistance and could even be a good short level.

What do you think is going to happen with snow in the next few days?

Let me know in the comments.

Cheers.