TOMIUSD Pull-back or break-out depending on the candle closing.

5 Jun 2023

TomiNet (TOMIUSD) traded exactly as we planned on our analysis last month (see chart below):

The Channel Up since January is still holding, so does the 1D MA50 (blue trend-line) as Support and the price just broke above the 5.5000 Resistance today. In order to call for an upward extension, we need to see a 1D candle closing above it. If it does, we expect a Higher High. If not then a -32% correction (5% less each time) to the 1D MA50, and then long-term buy. In either case, our target will be 8.5000.

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