karasinga wrote:SCOM:
SUPPLY AND DEMAND ANALYSIS
Prior analysis heremonthly

weekly

daily

situational awareness: If trends are only the movement of price between higher timeframe supply and demand levels then we are yet to hit a demand zone. Allow me to spice it up, in the context of who should defend what. In an oversold market the buyers are likely to defend their areas much easier and we need to be careful.
best wishes
Reasons why I think scom is a good buy now(1st march 2017 as at 1240hrs)
1. Having a low of 17.6 print today. There is a substantial demand between 17.55 and 16.9(check weekly view).This might be the last leg down.
2. Within the vicinity of the previous fourth wave (of one lesser degree)indicating wave 5 to come.
3. within the probable areas of reversal.(check blue box on the chart)
4. RSI bullish divergence

just my opinion. Best wishes
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