Very nice weekly bullish candlestick reconfirmed the previous buy signal on the daily chart (engulfing bar of 29 June). Confluence with bottom of channel trend line and 1.618 fib level. Good place to enter a medium term long position.
Comment:
"previous buy signal" link below
Comment:
The yellow dotted line is the 550 sat level, which is major support turned resistance (and market opening price level in 2017). I expect it to be a good target as there will be some profit taking and indecision as market will determine if we will break back above 550.
