Bullish break from flag pattern (break above 79.00 handle) suggests continuation of the rally from September low of 75.97 and open doors for a test of 200-DMA level of 80.24.
Also note, the 200-DMA is not sloping downwards anymore and thus there is potential for a bullish break above the same.
On the lower side, only a daily close below 78.00 (also 100-DMA) would signal bullish invalidation.
Also note, the 200-DMA is not sloping downwards anymore and thus there is potential for a bullish break above the same.
On the lower side, only a daily close below 78.00 (also 100-DMA) would signal bullish invalidation.
