FxWirePro: LTCUSD trades below trend line support, good to sell on rallies
LTC/USD is continuing its weakness for third consecutive week. The pair has broken major trend line support at $127 after a minor recovery till $140 on May 20th 2018. The pair has declined till 114.28 and is currently tr…
LTC/USD is continuing its weakness for third consecutive week. The pair has broken major trend line support at $127 after a minor recovery till $140 on May 20th 2018. The pair has declined till 114.28 and is currently trading around $121. The slight jump in this pair has been using as selling opportunity by traders. Any weekly close below trend line confirms major trend reversal, and a decline till $84 is possible.
The near term solid resistance is around $128 (5- day MA) and any break above will take the pair to next level till $132.48 (10- day MA)/$143.65 (20- day MA).
On the lower side, any break below $109 confirms minor weakness and a decline till $120/$109 is possible.
It is good to sell on rallies around $130-32 with SL around 141 for the TP of 109
