FxWirePro: LTC/USD faces strong resistance at 100- day MA, good to buy on dips
LTC/USD has shown a minor profit booking after 50% jump from low of 109.35. The pair jumped till 166 and shown a minor dip till 144. The pair has formed major double bottom around 106 and shown a good jump of more than 4…
LTC/USD has shown a minor profit booking after 50% jump from low of 109.35. The pair jumped till 166 and shown a minor dip till 144. The pair has formed major double bottom around 106 and shown a good jump of more than 40% and is currently trading around 149.73.
The near term solid resistance is around 168 (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 145 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.
