HD out of consolidation
Updated
Since April, HD has been trading sideways in between 315 and 300
Price finally picked a direction and pushed towards 280 , making the 300 level a strong resistance.
Last week we saw a first attempt to break above that resistance and failed, proving that it is a strong level (Also psychological level)
Watching to see which direction it will resolve. Maybe another retest of 300, if we get rejected again, could retest lows at 280.
If we push above and stay there, could once again move towards top of the channel at 315
Price finally picked a direction and pushed towards 280 , making the 300 level a strong resistance.
Last week we saw a first attempt to break above that resistance and failed, proving that it is a strong level (Also psychological level)
Watching to see which direction it will resolve. Maybe another retest of 300, if we get rejected again, could retest lows at 280.
If we push above and stay there, could once again move towards top of the channel at 315
Trade closed: target reached
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