A trade setup is presenting itself.
This has been a 3-year trend which is still playing out. The current price region has historically been an area of importance and an area of tough resistance.
IF this price region is broken (breakout), it should signify the victory of the bulls, and a considerable push upwards would be expected.
Worth paying attention to if someone is interested in a short term play with a little bit of spare capital.
Equally, a rejection here would signify a retrace (no idea how much of a retrace). And possibly a re-attempt at another breakout some time in the future.
This has been a 3-year trend which is still playing out. The current price region has historically been an area of importance and an area of tough resistance.
IF this price region is broken (breakout), it should signify the victory of the bulls, and a considerable push upwards would be expected.
Worth paying attention to if someone is interested in a short term play with a little bit of spare capital.
Equally, a rejection here would signify a retrace (no idea how much of a retrace). And possibly a re-attempt at another breakout some time in the future.