Expect more testing of the red bold neckline of the inverted head and shoulders formation. Support failure here will see a drop towards 50 days EMA support line. If this support line does not hold a test of low of the right shoulder at $1.57 is next. Conversely, a successful rebound of the neckline will propel price above the immediate 200 days EMA resistance line and test the $1.92 to $1.98 resistance zone. Clearing this resistance zone will push price upwards towards the next resistance at $2.15 followed by $2.40 .
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