Classical Fibonacci and Supply/Demand Trade setup.
Although analyst recommends buying MYE, and its true for long term, I still think it will go down retracing Fibonacci as this is in Supply Zone. Another reason to short is RSI indicated oversold for a duration of time.
In next few days I expect this to go down atleast until mid Jan after which it should rise as analysts indicated.
Lower time frames (lower than 1D) indicates Red candles so this is pushing downwards, 1D time frames indicate wicks bigger than candle body with the tendency to gow down.
Although analyst recommends buying MYE, and its true for long term, I still think it will go down retracing Fibonacci as this is in Supply Zone. Another reason to short is RSI indicated oversold for a duration of time.
In next few days I expect this to go down atleast until mid Jan after which it should rise as analysts indicated.
Lower time frames (lower than 1D) indicates Red candles so this is pushing downwards, 1D time frames indicate wicks bigger than candle body with the tendency to gow down.