Enbridge in a heavy support/resistance zone. Looking for <38.85
Looking for short confirmed breakdown below 38.85. Below that there is no support until around 38.22.
Indicators:
1. Double bounce off upper down trend
2. Didn't sustain rally after earnings
3. Broke bullish 4H MA down
4. Currently in a 4H downtrend and creeping on the convection point
No RSI confirmation either way, indicator is neutral.
Indicators:
1. Double bounce off upper down trend
2. Didn't sustain rally after earnings
3. Broke bullish 4H MA down
4. Currently in a 4H downtrend and creeping on the convection point
No RSI confirmation either way, indicator is neutral.
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Good downward move early today. We'll see if it extends.
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Confirmed break down, next target is around the 38 level.