LYB - A Cyclical Long
LYBJul-Aug tends to be a reliably bullish month for LYB. LYB is in a multi-year sideways trend, but the trends in-between this range has considerable range. It has embarked on a short term uptrend, which coincides with the cyclical performance of LYB. It has cleared the fib retracement level of 61.8% and the next level to test will be 78.6%.
Chasing the price would be unwise, preferably should wait for a pullback to 20EMA before consider the long swing for LYB. Next resistance around $92.
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