STRATUSD closes lower for the 2nd day in a row


Stratis/USD Index (STRATUSD) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
STRATUSD dominated by bears dragging the market lower throughout the day
STRATUSD closes lower for the 2nd day in a row
STRATUSD ends the day on a bearish note closing near the low of the day
STRATUSD breaks below previous session low
STRATUSD falls to lowest close since June 28, 2017
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, STRATUSD ended Saturday at 1.53 losing $0.09 (-5.56%) on low volume. Today's closing price of 1.53 marks the lowest close since June 28, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 1.61, STRAT/USD confirms its breakout through the prior session's low having traded $0.09 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 STRATUSD
Volatility

Saturday's trading range was $0.09 (5.63%), that's below last trading month's daily average range of $0.20. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 1.62.

Trend

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

Conclusion

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

Market Conditions for Stratis/USD Index
Condition Forecast Direction Win Avg Worst Best Events
Low close to previous low TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Tweezer Bottom TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

STRATUSD finds buyers again around 1.27

Aug 16, 2018
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