We might see a cup-and handle pattern forming during the upcoming days if the price reaches the resistance line at fib 0.382 and breaks out. It's been a long congestion phase for DGB, mainly because of selling pressure that made the price consolidate toward a downtrend... but rest assured folks, by the end of this week we might see an increase when DBG begins to make its move higher, back up to test the previous high @ fib 0.382
If it breaks out , I would suggest to exit at 0.14 upon double tops pattern completion.
Hold and be patient :)
If it breaks out , I would suggest to exit at 0.14 upon double tops pattern completion.
Hold and be patient :)
Comment:
Now some of you may ask, how likely a cup-and-handle pattern will form during the upcoming weeks? Very likey. The reason is quite is simple actually, with the CitiBank competition being held next month we can already predict and anticipate a massive bullish trend by the end of june. What happened the previous weeks will repeat itself with the upcoming competition in July.
Comment:
DGB broke through resistance line @ 1229, price most likely will continue to rally up!