Accending triangle formed,
support formed at .1706+- level,
Needs to hold over .1720 +- over the next day or so and continue up the trendline.
Resistance at .1840 level,
Second key level of resistance at .2000,
Target price .2100
Timeframe over the next 10 days,
support formed at .1706+- level,
Needs to hold over .1720 +- over the next day or so and continue up the trendline.
Resistance at .1840 level,
Second key level of resistance at .2000,
Target price .2100
Timeframe over the next 10 days,
Note
Looks like it's holding along the trendline, a couple of dips below but regained to continue on it's path to close out the triangle as it consolidates.On the 4hrly and daily charts RSI & MACD are close to converging which are two flag indicators to me that will indicate an upswing in momentum quickly!
ADX is slightly fading and would like to see this gain.
Looking for a slight dip below the trendline, but a higher low off the two last cycles for an outline to then bounce off the trendline.
Be ready for some turbulance over the next few days
Note
Also, one last thing I'm begging to see is a large dip outside the BB with a retracement as a final indicator before a move upward is signalled.
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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.