SQ has continued with its bullish dominance. The market stepped up more from the resistant point that it was yesterday, and presently, it is a bullish journey. Thus giving the bulls a hope of dominance.
Technical Levels:
Support levels: $72, $75, and $79
Demand levels: $70, $66, and $60
SQ Medium-term Trend: Bullish
Since June 5, the pair has consolidated at the price demand level of $60 as its major support level, it also consummated the next price resistant level of $66 on June 9. The pair further accelerated to the price area of $70. After dilly-dallying, within this resistant region, it maintained the bullish move, heading to the next price resistant of $72, the momentum might continue up to the resistant level of $75.
The daily chart indicates that the MACD Indicator Histogram is in an outright bullish display, including the cross of its signal lines. The market has been able to sit in a comfortable manner above the 50 Exponential Moving Average, signaling a strong bullish movement.
SQ Short-term Trend: Bullish
The short-term market of the pair is also in a jolly bullish trend. It indicated price movement boldly going up to the next resistant level.
The various technical indicators on display are pointing north ways, the 50 Exponential Moving Average is also below the market price, proving that the bulls are in control.
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