Third attempt on 1D to break the 70.60 Resistance. Long.

9 Ağu 2018

The second attempt to break the 70.60 Resistance on 1D failed as the chart stayed neutral (RSI = 42.406, STOCH = 47.032) under significant selling pressure from the last two bearish Inventory Reports. We expect a 3rd attempt (dotted curve) to commence aiming at the Resistance break-out. This attempt will be this time supported on the 1W Channel Up (RSI = 50.993, MACD = 2.130) on the 64.30 Higher Low mark. We remain bullish aiming at 71.88 and 72.86 in extension.