P&G channeling up
Updated
Rational:
1) Trend is up;
2) Prices bounced of support at 82.70 ;
3) EMA 50 crossed above EMA 200;
4) RSI bottoming at around 45%, with a positive reversal in place ( See Vertical gray lines);
5) Resistance(s): 84.10 - 85.90;
6) Support(s): 82.70 - 81.25;
Trading Implications:
Buy at market open;
Target (s): upper Channel with 85.90 to clear first;
Stop: on a 2 days close Below 82.7, or an 2% break below it being 81.05 ;
1) Trend is up;
2) Prices bounced of support at 82.70 ;
3) EMA 50 crossed above EMA 200;
4) RSI bottoming at around 45%, with a positive reversal in place ( See Vertical gray lines);
5) Resistance(s): 84.10 - 85.90;
6) Support(s): 82.70 - 81.25;
Trading Implications:
Buy at market open;
Target (s): upper Channel with 85.90 to clear first;
Stop: on a 2 days close Below 82.7, or an 2% break below it being 81.05 ;
Trade closed: stop reached
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