SunMoonFood Ltd – Daily timeframe
Current Sentiment: Bearish
Support 1: 0.066 Resistance 1: 0.750
Support 2: 0.063 Resistance 2: 0.770
Price experienced some enormous upswing with heavy volume since 23/09/16, hitting a high of 0.075 resistance area recently.
However, the upswing appears to be exhausted here as the 0.075 resistance area forcefully rejected price on 05/10/16, resulting in price forming a glaring Bearish Outside Bar with high volume.
An immediate top should be in sight and price should turn into a correction mode next where the 0.066 support area followed by 0.063 gets tested.
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