PIVXUSD snaps to lowest close since May 27, 2017


Private Instant Verified Transaction/USD Index (PIVXUSD) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
PIVXUSD closes below its opening price unable to hold early session gains
PIVXUSD closes lower for the 2nd day in a row
PIVXUSD ends the day on a bearish note closing near the low of the day
PIVXUSD breaks below previous session low
PIVXUSD falls to lowest close since May 27, 2017
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, PIVXUSD finished Saturday at 1.1000 losing $0.0900 (-7.56%). Today's closing price of 1.1000 marks the lowest close since May 27, 2017. Trading $0.0400 higher after the open, PIVX/USD was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Friday's low at 1.1800, the market confirms its breakout through the previous session's low having traded $0.0900 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for PIVXUSD
Volatility

Saturday's trading range was $0.1100 (9.48%), that's below last trading month's daily average range of $0.1905. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.

Market Conditions for Private Instant Verified Transaction/USD Index
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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