FGG Local S/R| Swing High| 200 MA| Price Action Evening Traders,
Today’s analysis – FGG- trading towards a key location where a bullish reaction is highly probable,
Points to consider,
- Price action impulsive
- Local S/R support
- 200 Dynamic S/R support
- Oscillators bullish control zone
- Declining Volume
FGG’s immediate price action is impulsive, establishing a new swing high, currently trading towards the Local S/R where a bounce is probable.
Both the RSI and Stochastics are trading in their respective bullish control zones, remaining in these regions will be indicative of strength.
The current volume profile is decline, an influx is highly probable when price action reaches a key trade location.
Overall, in my opinion, FGG is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
‘’No one strategy is correct all the time’’.- John Paulson
