Lets take a look at the neo markets on 1 day candles to get an idea of what is happening.
In my opinion NEOUSD is undergoing a very healthy correction, however it is important to note that we are currently in bearish trend , not really surprising considering the markets at the moment.
We can see that NEOUSD found strong support around $100 where prices were pushed into the $140 zone where we saw quite a lot of action before it was rejected as support and became resistance.
Short term speaking we could see a retest of the $100 – $120 zone, and this is also where some day traders are placing some buys to catch the bounce.
Longer term speaking I expect NEOUSD to continue its bullish momentum at some point, most likely when Asia stops having holidays.
I see solid support at $100, but should prices break below that the longer term support zone is $60 – $100.
