NVDA: This is the MOST important RESISTANCE for the short-term.
Hello traders and investors! Let’s see how NVDA is doing today!
In the 1h chart, we couldn’t fill the gap at $ 228, but we almost hit there. Now, we see the beginning of a reaction, and this might be something good.
However, we don’t see a true reversal pattern yet, only a sideways correction. The trend is still slightly bearish, as we are under the 21 ema (and it is pointing down). Everything could change the moment NVDA breaks the $ 237 again, and starts trading above the 21 ema.
The daily chart reveals a strong bear trend, and the purple trend line is the main resistance for us in the mid-term. If NVDA breaks the 21 ema and $ 237 in the 1h chart, we can expect another retest of this purple line.
Now is the best time for a reaction, as we are holding above the 61.8% retracement. The technicals suggest a short-term reversal, but NVDA must trigger its signs first. Let’s pay attention to the key points mentioned in this analysis for now.
I’ll keep you guys updated every day, so remember to follow me to not miss any of my future analyses!
In the 1h chart, we couldn’t fill the gap at $ 228, but we almost hit there. Now, we see the beginning of a reaction, and this might be something good.
However, we don’t see a true reversal pattern yet, only a sideways correction. The trend is still slightly bearish, as we are under the 21 ema (and it is pointing down). Everything could change the moment NVDA breaks the $ 237 again, and starts trading above the 21 ema.
The daily chart reveals a strong bear trend, and the purple trend line is the main resistance for us in the mid-term. If NVDA breaks the 21 ema and $ 237 in the 1h chart, we can expect another retest of this purple line.
Now is the best time for a reaction, as we are holding above the 61.8% retracement. The technicals suggest a short-term reversal, but NVDA must trigger its signs first. Let’s pay attention to the key points mentioned in this analysis for now.
I’ll keep you guys updated every day, so remember to follow me to not miss any of my future analyses!
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