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Bitcoin could pullback soon

Bitcoin could pullback soon | 10 November 2017

Bitcoin could pullback soon
Bitcoin could pullback soon

Technical Observation:

After a massive decline in Bitcoin's  price seen one and half months ago, this crytocurrency spiked higher and even reached the highers of 7464, but failed to reach 7500 as previously expected. During this week, we expect a slight pullback to the lower side then another spike to the upper side. Since the inception of this cryptocurrency, Bitcoin has been in an uptrend and chances of rising even higher is highly expected. Thus, even though a pullback is expected, I'm only interested in a long position with an ultimate take profit at 10,000. If you not long already, you could wait for a breakout above $7500 to pick a long position towards the previous take profit.
Trade Signal
Remain long

MTS PAO Buy

Bitcoin could pullback soon

Technical Observation
On 23rd October this year, Russia's largest telecoms operator MTS declared it would it would buy equipment from Sweden's Ericsson for 470.16 million US Dollars to modernize its network. Prior to this, in September this year, MTS announced it's acquisition of 50.82 % stake in the Russian retail software developer Oblachny Retail LLC, operating under Litebox - SEC Filing,(from Reuters).  This are good signs for this company and indicates an improvement in performance. That said, I expect a rise in value per share of ths company. therefore from the chart above, I expect rise in value towards 292.66 or even higher. If your a bit reluctant to long this stock now, you could wait for price to rise above 292.66 to buy it towards 300.00.
Trade Signal
Buy MTS PAO  above 292.66 towards 300.00

NorilskNic Buy

Bitcoin could pullback soon

Technical Observation:

Ealier last month around 10th, Chita - PJSC MMC Norilsk Nickel,which is the world's largest producer of palladium , launched hot commissioning  operations at Bystrinsky  GOK. These commissioning process is aimed at improving the performance of this company in general thus, after the end of this process in months to come, I expect a rise in value per share of this company. That means, I expect a break out above the monthly resistance line 12046.43, and even further rose even higher. at the moment, I'm waiting for a minor pullback towards 11191.83 to pick a long position. you could wit for this pullback to buy or wait for breakout above 12046.43 to buy.

Trade Signal
Either buy above 12046.43 or buy around 11191.83 with an ultimate take profit at 13000.00

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Imelda Maseno
Analyst of «FreshForex» company
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