F rallied off 14.78 (June 1, 2015 weekly low) ahead of the 6-1/2 year rising trendline (from November 17, 2008 weekly low) (as shown on the weekly chart) to suggest basing. Further strength opens 16.74 (March 23, 2015 weekly high) above which would target 18.12 (July 21, 2014 peak). However, a breakdown below 14.78 would defer the upside and weaken towards 14.30 then the 13.93 area near the 200-week moving average which could provide support for the dips.
Outlook:
Short term: bullish
Long term: bullish
Outlook:
Short term: bullish
Long term: bullish
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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.