Trade setup: Price is in an Uptrend. Following a bullish breakout from a Symmetrical Triangle, price has also broken above $60 to signal continuation of uptrend, with +15% upside potential to $68-70. Price is now retesting that breakout. Stop Loss (SL) at $55.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $47 (previous resistance), then $36. The nearest Resistance Zone is $60, then $68 - $70 and $80.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $47 (previous resistance), then $36. The nearest Resistance Zone is $60, then $68 - $70 and $80.