LB made it’s low in 2009 around $10 and has trended well ever since. Price found resistance at 65,35 in December 2013 and pulled back slightly below round number 50. As trend traders, we know that price doesn’t move in a straight line and after each big move we expect a breather followed by either a trend continuation or a trend reversal. It took several months for LB to return to the uptrend but when it finally managed to break the pivot high in October 2014, price moved really fast and currently we are just above 90 with no clear resistance until the big figure 100.
Yesterday, LB managed to close above a multi-week consolidation zone giving us an opportunity to add to our profitable positions.
Yesterday, LB managed to close above a multi-week consolidation zone giving us an opportunity to add to our profitable positions.
