FxWirePro: LTC/USD downside capped by 50- day MA, good to buy on dips
LTC/USD is consolidating in narrow range between 166.30 and 141.75 for the past 11 trading session.. The pair has formed major double bottom around 109 and shown a good jump of more than 50% and is currently trading arou…
LTC/USD is consolidating in narrow range between 166.30 and 141.75 for the past 11 trading session.. The pair has formed major double bottom around 109 and shown a good jump of more than 50% and is currently trading around 164.13.
The near term solid resistance is around 163 (100- day MA) and any close above will take the pair to next level till 175/195 (Mar 10th high)/250.
On the lower side, any break below 140 (50- day MA) confirms minor weakness and a decline till 130/120/105 is possible.
It is good to buy on dips around 145 with SL around 130 for the TP of 175/195/250.
