CHX/USD Weekly time frame
- After a big run up from October 8th to February 18th CHX gained over 1800%.
- Own retraced from highs of February 18th ($0.34) to the weekly and 0.618 Fibonacci support line at $0.14.
- At support buy pressure came in. The weekly candle started making a bullish engulfing pattern, which is a very bullish sign at support.
- Price is now back above the vertical trend line and the 0.382 Fibonacci level, RSI is also above an important trend line.
- Price stays above the vertical trend line and break the next resistance.
- Price hovers between support and resistance for a while.