LTCUSD testing support, potential for further rise!

May 23, 2019

Price is testing our first support (horizontal overlap support, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce to our major resistance (horizontal pullback resistance, 38.2%Fibonacci retracement, 61.8% Fibonacci extension). A break above our intermediate resistance (horizontal swing high resistance) might provide the bullish acceleration to our first resistance level. Stochastic is approaching support as well where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.