Fantom is Seen Down
Fantom is moving up since October 27, but it has hit a strong resistance at 0.2500. Prices are scaling back to form a ‘tweezer top’ candlestick pattern. Although prices may attempt to test the resistance once again it is likely they will roll down. Thus, is would be interesting to consider short trades at 0.2486-0.2511 with a target at 0.2353, the low of October 29. The stop-loss could be set slightly above 0.2560, the high of July 24.
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