LYB - A Cyclical Long

30 Tem 2017

LYB

Jul-Aug tends to be a reliably bullish month for LYB. LYB is in a multi-year sideways trend, but the trends in-between this range has considerable range. It has embarked on a short term uptrend, which coincides with the cyclical performance of LYB. It has cleared the fib retracement level of 61.8% and the next level to test will be 78.6%.

Chasing the price would be unwise, preferably should wait for a pullback to 20EMA before consider the long swing for LYB. Next resistance around $92.