Taking 29.75 horizontal resistance and the 50-days simple moving average suggests a retest of the top of the sideways consolidation at 31.20 is probable.There has been a clear bullish divergence on MACD for the past months, and recently a bullish crossover as well.
I am expecting at least a retest of 31.20, which if taken will complete a double bottom and probably mark a near to medium term bottom extending the upside to the 200-days SMA as the next target.
Good luck...
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I am expecting at least a retest of 31.20, which if taken will complete a double bottom and probably mark a near to medium term bottom extending the upside to the 200-days SMA as the next target.
Good luck...
Exclusively Subscribers to my mailing list will get one month access to my trading account . subscribe here thefxchannel.com/ ,
My best regards
Technician