BOEING approaching a 1 year MA Resistance Zone
Boeing (BA) has been on a strong rise ever since the June 14 Low, with the 1D MA50 (blue trend-line) supporting. This trend is approaching its most important long-term test as the Resistance Zone formed by the 1D MA200 (orange trend-line) and the 1W MA50 (red trend-line) is just above. This Resistance Zone has rejected every break-out attempt since August 17 2021 (the only 1D candle that closed above was the November 15 2021 but no 1W candle every closed above).
As a result, it is the critical test that will most likely issue the trend of the next months. A 1W close above this Resistance Zone, is a bullish break-out signal targeting $220.00 which is just below the Resistance cluster shown on the chart. A rejection on the 1D MA200/ 1W MA50 Resistance zone, targets the 1D MA50 on the short-term at least. We have to give the bullish break a higher probability as the 1W RSI is on bullish reversal pattern since the May 23 low.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
As a result, it is the critical test that will most likely issue the trend of the next months. A 1W close above this Resistance Zone, is a bullish break-out signal targeting $220.00 which is just below the Resistance cluster shown on the chart. A rejection on the 1D MA200/ 1W MA50 Resistance zone, targets the 1D MA50 on the short-term at least. We have to give the bullish break a higher probability as the 1W RSI is on bullish reversal pattern since the May 23 low.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.