GBGAQRS - Analysis on price movementN wave with E, V & NT projection.
The price is below the Kumo, indicating bearish momentum. The Kumo itself is bearish and relatively thick, suggesting strong resistance overhead.
The Tenkan-sen have crossed below the price, which might indicate a potential short-term bullish correction but within a generally bearish context.
Volume is low, indicating a lack of momentum, which is typical in a consolidating market or at the beginning of a reversal.
R1 - 0.380
R2 - 0.395 (Senkou span B)
S1 - 0.345 (Kijun-sen)
S2 - 0.325
As long as price maintained above 0.345, a potential bullish move is considered and shows strength moving towards 0.390. Alternatively, a conservative entry could be above 0.390 after confirmation of a bullish move.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
