FxWirePro: LTC/USD takes support near 55- EMA, good to buy on dips
Wednesday, May 9, 2018 1:11 PM UTC
- LTC/USD has declined almost more than 15% and shown a minor jump from the low 150. It has jumped till 158.78 and is currently trading around 156.96. The pair has formed major double bottom around 109 and any major weakness only below that level. It is currently trading around 159.13.
- The near term solid resistance is around 163 (daily Tenkan-Sen) and any break above will take the pair to next level till 175/183 (100- day MA)/195 (Mar 10th high)/250.
- On the lower side, any break below 142.50 (50- day MA) confirms minor weakness and a decline till 130/120/105 is possible.
It is good to buy on dips around 153-55 with SL around 142 for the TP of 175/183.
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