Lightning cloud just crossed above Thunder cloud

The prices formed a double-bottoms reversal pattern in April, 2020 and has just broken above the 250-day (red line) moving average and the upper boundary of a rising wedge pattern. The lightning cloud has just broken above the thunder cloud with a narrow shape and is heading upwards. The future thunder cloud has twisted to bullish, while Span A is heading upwards. The daily RSI stands firmly above its neutrality level at 50% and is heading upwards. The MACD is above its signal line and 0-level, while the MACD histogram is broadening.

In these perspectives, the outlook is positive. With the cloud support, prices are likely to further advance and challenge the next resistance at $110.67 (Mar 2020 top + near 78.6% fib. retracement between Feb 2020 high (point A) and Mar 2020 low (point B).