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Bitcoin Pulling back

Bitcoin Pulling back | 03 November 2017

Bitcoin Pulling Back

Bitcoin Pulling back

 

Technical Observation:

Bitcoin continues to pullback despite the previous analysis that it could stretch upwards towards 7000.00. I expect this downward rally is a retracement rally to the lower side towards 5474.22 where I'll be looking for a buy position towards my previous take profit set at 7000.00. According to the daily chart above, only a buy position can be recommended upon a rejection from 5474.22, and a stop loss below 5274.3. If the price should close below 5474.22, then I expect further drop towards 4672.30.  
 
Trade Signal
Remain long towards 7000.
Megafon PAO (MCX:MFON)
Bitcoin Pulling back
Technical Observation

On second October, this Russia-based telecommunications operator bounced off from the resistance line 661.4, and at the same time it bounced off from the resistance trend line. From  a wider point of view, Megafon has been making lower highs, I went short following the third  bounce from this Resistance trend line and is still holding onto this trade. My expectation is that the price should continue to plummet towards 544.1 or even lower. According to the daily chart above, only short position can be recommended towards the daily support line 534.00. If this support is broken, then the price will drop even further towards 500.00.

Trade Signal
Remain short towards 544.1
Brent Still to rise
Bitcoin Pulling back

Technical Observation:

Perfectly as I analyst last week, Brent oil Brent oil went higher than expected and still showing signs of rising even higher. Following the clear close above 57.61, I went long and is still holding onto this position. My expectation is that the price should continue rising towards 67.29 or even higher. According to the weekly chart above, only a long position can be recommended towards 67.29. If you didn't go long around 56.89, wait for minor pullback to the lower side to pick a long position towards 67.29. If you went long, leave this position open.
Trade Signal.
Wait for pullback to the lower side to pick a long position towards 67.29

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Imelda Maseno
Analyst of «FreshForex» company
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