Technical Analysis - Stakenet
XSN/USD - 01/07/2020
As shown in the chart above, we will be updating the technical analysis of XSN/USD from the 2nd of December.
Since the last analysis, we have come back into the mentioned area of support. With an influx of divergences on various indicators like the CCI, Stoch, and Volume, we have seen a break of the red-marked downtrend, which has been haunting the profits of XSN investors since the beginning of November. This break has been going on for a while now and might be at a point of local resistance.
XSN has turned bullish, after the slightly bearish chart, yet this was expected to see, especially after such a long-lasting and already exhausted downtrend. The current structure shows a little trouble of going through the very local highs, which might end up as a local double top and give us another re-test of the green box below. Nevertheless, an experienced trader would be taking a look at the blue box above for a re-test shortly, if buyers step in and show support again.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
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