ðĨ MATIC Ideal Reversal Point: Bullish Outlook
Around two weeks ago I made an analysis on MATIC where I expected a retest of the 2-month bull-flag before continuing the uptrend. Looking back at the chart below, we can see that's exactly what happened. Congratulations if you took the trade.
With the stock markets dumping, MATIC is falling as well. In my view, there's a good chance that the price will retest the bottom support of the channel on the chart before reversing back up.
Second target is the same as in my prior analysis, now added another target in between at the recent local top. Wait for a confirmed reversal before entering the trade. Be aware it's a risky trade since we've got the FOMC meeting tomorrow.
With the stock markets dumping, MATIC is falling as well. In my view, there's a good chance that the price will retest the bottom support of the channel on the chart before reversing back up.
Second target is the same as in my prior analysis, now added another target in between at the recent local top. Wait for a confirmed reversal before entering the trade. Be aware it's a risky trade since we've got the FOMC meeting tomorrow.
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