A while ago I made an analysis on FTM and the horizontal channel it was trading in. If you took the trade, there was a nice 20% or so to be made.

However, since then the macro outlook has shifted dramatically with Russia invading Ukraine and we’re back at the lower support again.

This time I’m not so sure that we’re going to reverse. Most likely scenario would be to fall through the support and move towards the $1 target. We need some serious market relief in order to trade at $2 in the near future.

Happy trading!