TRON / Dollar intraday: the RSI is oversold

Our pivot point is at 0.3167.

Our preference: the downside prevails as long as 0.3167 is resistance.

Alternative scenario: above 0.3167, look for 0.3200 and 0.3219.

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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.3165 and 0.3180). Finally, the TRON / Dollar is trading below its lower Bollinger band (standing at 0.3123).

Supports and resistances:

0.3219 **

0.3200 *

0.3167 **

0.3154

0.3122 last

0.3078

0.3059 **