TRON / Dollar intraday: the RSI is overbought

Our pivot point stands at 0.2417.

Our preference: the upside prevails as long as 0.2417 is support.

Alternative scenario: the downside breakout of 0.2417 would call for 0.2367 and 0.2337.

Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.2434 and 0.2433). Finally, the TRON / Dollar has crossed above its upper Bollinger band (0.2461).

Supports and resistances:

0.2614 **

0.2584 *

0.2554 **

0.2524

0.2462 last

0.2437

0.2417 **