TRON / Dollar intraday: the RSI is oversold

Our pivot point is at 0.2845.

Our preference: the downside prevails as long as 0.2845 is resistance.

Alternative scenario: the upside breakout of 0.2845, would call for 0.2879 and 0.2898.

Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.2844 and 0.2905).

Supports and resistances:

0.2898 **

0.2879 *

0.2845 **

0.2832

0.2809 last

0.2770

0.2750 **