LLOY.UK Daily Chart Our Expectations - Downward Trend, Correction to Horizontal and Diagonal Resistance. Possibility for short positions with stop 0.6262.
Alternative scenario: Rising and closing a bar above diagonal resistance will send the price to a deeper correction, with the next stop being 50% Fibonacci around 200 MA.
Comment: Downward movement, correction to horizontal and diagonal resistance. At this level is also 23.6% Fibonacci, measured from the peak of January 24 to the bottom of September 14. With the correction, the price struck a structural horizontal resistance, but now it came back below it - a signal that the declining trend continues. Price Action signal from pin bar on resistance levels. 50/200 MA in the formation. The price samples and tests 50 mA - negative signal. The CCI 50 is below 0 signaling that the main movement is descending. CCI 14 samples 100 top-down-bears signal.
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