Hello Traders!
SNX is moving within the descending trend. The price found support at $2.08-2.65, after which the local upward movement within the correction framework began.
At the moment, the price is in the resistance zone - the range of $3.53-4.25. In case of continuation of the main (descending) trend, we will be interested to see the price reaction near the support level of $2.08. If the price does not fall below this price level, it will mean that the range of $2.08-2.65 is a zone of interest for buyers.
In this case, medium-term purchases on the given instrument in a range of $2.08-2.65 can be considered.
The aims of profit fixation on such purchases will be price levels of 5.90 and 7.35$.
Good luck, and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice
SNX is moving within the descending trend. The price found support at $2.08-2.65, after which the local upward movement within the correction framework began.
At the moment, the price is in the resistance zone - the range of $3.53-4.25. In case of continuation of the main (descending) trend, we will be interested to see the price reaction near the support level of $2.08. If the price does not fall below this price level, it will mean that the range of $2.08-2.65 is a zone of interest for buyers.
In this case, medium-term purchases on the given instrument in a range of $2.08-2.65 can be considered.
The aims of profit fixation on such purchases will be price levels of 5.90 and 7.35$.
Good luck, and watch out for the market
P.S. This is an educational analysis that shall not be considered financial advice