NEO/USD Technical Analysis: Bears have stranglehold on the market

NEO/USD Daily Chart

  • NEO/USD went down from $12.47 to $11.60 this Thursday.
  • The daily chart is forming a potential reverse head and shoulders pattern. It looks like the price is going to fall down in the short term to form the second shoulder.
  • Bulls need to protect the support at $11 to prevent further downtrend.

NEO/USD 4-hour Chart

  • The 4-hour NEO/USD chart is trending below the SMA 50 and SMA 20 curves.
  • The SMA 50 has crossed over with the SMA 20 curve which is a bearish sign.
  • The Ichimoku indicator shows that the near-future market sentiment is bearish.
  • The Elliot Wave Oscillator shows that market sentiment is currently bearish as well.

NEO/USD Hourly Chart

  • The last four sessions were so bearish that it brought the market below the lower curve of the 20-day Bollinger band.
  • The widening of the Bollinger band shows increasing market volatility.
  • The SMA 200 curve has crossed over with the SMA 50 curve, charting the “death cross” which is a significant bearish sigh.
  • The last seven sessions of the moving average convergence divergence (MACD) curve shows that the bearish momentum is increasing steadily.

Key Levels

NEO/USD

Overview

Today last price11.831

Today Daily Change-0.60400

Today Daily Change %-4.86

Today daily open12.435

Trends

Daily SMA2010.9754

Daily SMA509.88437

Daily SMA1008.87741

Daily SMA20010.9144

Levels

Previous Daily High12.908

Previous Daily Low12.202

Previous Weekly High14.05736

Previous Weekly Low9.7628

Previous Monthly High17.612

Previous Monthly Low6.75

Daily Fibonacci 38.2%12.63831

Daily Fibonacci 61.8%12.47169

Daily Pivot Point S112.122

Daily Pivot Point S211.809

Daily Pivot Point S311.416

Daily Pivot Point R112.828

Daily Pivot Point R213.221

Daily Pivot Point R313.534

 


 

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