Burford has broken out from its post-Woodford drop. Clean air up to the resistance and fib area, around 1050-1100p. I'd expect a few early opportunists to sell out here though, and have it retest the breakout area.
Price seems to be forming a double top at support zone
Possible continuation of the short trend.
In a state of consolidation right now.
Wait for confirmation candle...
Price may test this area before breaking through as it seems on the lesser timeframes.
Last post: June 16th 2018. See chart.
Review: Price was faced with the weekly 200SMA acting as resistance at circa 95.
Update: Price is trading above the weekly moving average but has remained in consolidation.
Conclusion: Waiting for a breakout above the March 2019 high.
- Bullish divergence on H4 using stochastics
- Breakout of the consolidation zone and mini channel on the H1
- Supported by monthly key level if price decides to retest the consolidation zone once again
- 90 pips target with 45 pips stop loss
- Bearish divergence on the H4 using stochastics
- Price seems to be rejecting the major daily resistance level of 114.33 and started to consolidate on the H1 before breaking out this zone to the downside
- Could see price heading towards 113.00 as it fulfils the fibonacci 38.2 level on the D1 as a well due retracement after consecutive bullish moves
Could be poised for a decisive breakdown as price is testing the bottom of the regression trend channel / 200 MA
For a bearish confirmation i'd like to see the channel breaks as well as the Jan 2018 low
Keeping tabs as long consolidations often lead to big breaks
This stock is featuring for the first time on our TradingView blogs.
Current setup: Price has just broken out of the consolidation zone by a few points.
Conclusion: We need to wait for price to move higher then pull back and see another breakout to confirm this is not a fake breakout.
Any comments or questions, do not hesitate to leave them below. Hit agree if...
For 2 weeks now we have been range bound between 7280 and 7440 with clear support and resistance visible.
My two plays will be wait for a break of the trend line and get short, alternatively a break above 7440 and i will want to be long.
Tomorrow is the 1st of the month and statistically it is the best day of the month for gains so I will be watching closely for...
EURAUD exchange rate for a week is moving in more than 150-pips consolidation, which was formed after setting the maxima at 1.5073. The wider trend remains bullish, but signs of weakening are showing, even in the form of the discussed consolidation.
Currently the rate is at the lower limit of this consolidation, which is located at 1.4930. Successful breakdown of...