EGLD/USD - Cooldown to $40 then $65!EGLD is very bullish with great gains these past two days, however, right now we are under resistance which pushed us lower. As you can see we've formed an ascending channel that will take us higher if it holds.
I expect us to cooldown a bit, maybe touch the low $40 price levels and then push higher. If we fall to support, that will be a good opportunity to enter.
The indicators on daily are bullish and RSI is looking a bit interesting as we formed a bearish divergence, but this can be invalidated if price maintains it's upwards momentum. Volume on this last breakout looks solid, so I am not too concerned.
Bias is bullish, but wait for this correction to end as it's unlikely we push higher in the immediate future. The Fib 161% level has acted as resistance and is pushing us lower now.
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