The MACD line is above the signal line, which is a bullish sign. The 12 day EMA is above the 26 day EMA, which is a bullish sign. Resistance 1: 0.449, Resistance 2: 0.456, Resistance 3: 0.469, Support 1: 0.425, Support 2: 0.417, Support 3: 0.405.
[coinmc type=”chart” coin=”NULS”]
Nuls is showing some bearish qualities as it trades below its support at 0.425 If buyers pick up, we could see some resistance at the 0.449 area.
As a sign of strength, the MACD is above the signal line. Momentum is therefore in the bulls favor.
The Moving Average Convergence Divergence (MACD) helps traders identify possible buy and sell zones by analyzing the difference between the two moving averages. When used in conjunction with the RSI, the indicator can help spot overbought and oversold levels as well as the trend of momentum for a specific security.
RSI exposes a reading of 61.9. This signals that buyers could stay in control for awhile longer. The substantial momentum may also help push the price over the resistance level.
The Relative Strength Index (RSI) is a mometum indicator that oscillates between 0 and 100. A reading above 70 is considered overbought while a value below 30 is considered oversold.
A separate indicator is the Average True Range (ATR) which is used for measuring volatility. The indicator can measure the degree of interest or disinterest of price movements by market participants. A bullish reversal with an increase in ATR would show strong buying pressure and reinforce the reversal.
Using today’s pivot points, we can calculate what tomorrow’s prices might be. Prices for tomorrow: high, 0.436, low, 0.409.