3I Infrastructure Approaching Resistance3IN was in a period of consolidation that began in July 2016.
After price broke out of that consolidation zone it used the resistance as support and now looks set to tackle
the next area of resistance.
The resistance level we need price to break is at £2.15 and if it does get through then we may see a trend form
like the trend we saw from 2014 to 2016.
Price is above the 50 and 200 simple moving averages on the daily and weekly timeframes.
Right now the structure of price does not look appealing to trade as price has been moving sideways but a break of the resistance
could change that.
We need to stand aside until we have a clear direction as price could easily return back to the consolidation zone, so we need
to see higher highs and higher lows to confirm we are in an uptrend.
Remember to take the easy path when it comes to trading and easy profits will follow.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
