LTCUSD: Selling the Break - Short Term - We look to Sell a break of 140. 40 (stop at 146.97)
LTCUSD - Short Term - We look to Sell a break of 140.40 (stop at 146.97)
Trades with a bearish descending triangle formation. A break of 142.00 is needed to confirm follow through negative momentum. The trend of lower highs is located at 152.00. Further downside is expected and we prefer to set shorts in early trade. A break of bespoke support at 142.00, and the move lower is already underway. Further downside is expected, however, due to the strong support below we prefer to sell a break of 142.00, which will confirm the bearish sentiment.
Our profit targets will be 123.20 and 117.00
Resistance: 150.00 / 160.00 / 170.00
Support: 142.00 / 130.00 / 105.00
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