Wednesday, December 13, 2017

$ECA, ....Bearish Descending Triangle

With an extraordinary resistance to the rise, the market is showing a technical formation of a descending triangle.

Weekly averages are showing a markedly negative performance.

For this type of weekly average, the price has remained below the SMA-200 which is now 12.17, considering this level a weakness of the price. 

For the daily average the SMA-200 is 10.59, now having this formation descending, the price has more than 75% to reach a reduction of up to 10% that places it at 10.61 near the SMA-200.

My strategy is to keep selling this until I reach the level of 10.61.

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