TUGS is on a Range-Bound price action after the recent breakdown from its Upward Price Channel and a breakdown from a Head-and-Shoulder Top pattern.
*Immediate resistance is around 3.60.
*Immediate support area is around 3.15~3.24.
The measured breakdown target near 3.0 from a Head-and-Shoulder Top pattern was also hit after the recent dip to 3.01. See previous analysis on Head-and-Shoulder Top pattern breakdown for more details:
https://psetrends.blogspot.com/2017/03/tugs-on-immediate-trend-breakdown.html
Trading Plan
- Range trade the price action with appropriate target and stop-loss.
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