I am conflicted by this one as I see a rejection zone at the spot we are in right now. The last few times it has reached this spot, it had hard rejection. However where I see a technical setup here is the following:
- Bullish 4 hour candle moves
- MACD Cross is about to take place
- RSI looking healthy
It has come out of its double bottom nicely with a bit of a cup & handle. Will there be enough volume and interest to push this above its resistance zone of 152 or will we see another hard rejection to pull back down to the mid 140 zone.
The technical read tells me it should keep going but I cant speak for market sentiment and whether or not previous resistance will force it to pull back. (Not financial Advice)
- Bullish 4 hour candle moves
- MACD Cross is about to take place
- RSI looking healthy
It has come out of its double bottom nicely with a bit of a cup & handle. Will there be enough volume and interest to push this above its resistance zone of 152 or will we see another hard rejection to pull back down to the mid 140 zone.
The technical read tells me it should keep going but I cant speak for market sentiment and whether or not previous resistance will force it to pull back. (Not financial Advice)