Aurum Markets Blog Technical Analysis Should we expect a bearish trend on LTCUSD?

Should we expect a bearish trend on LTCUSD?

Should we expect a bearish trend on LTCUSD? post thumbnail image

This trade setup on LTCUSD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 112.7153.

Supported by Downward sloping Moving Average

Target: 112.7153 Entry: 119.0388 Stop: 130.3

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