An up-sloping accumulation structure suggests strength.
Potential in phase D SOS rally.
Supply absorption is near completion.
Likely to see ease of movement to rally up further in phase E.
First target at 1.60 with a tight stop around 1.20.
Trade active
⋅
First round rally started. Supply level is low. Steady up-trend is expected to continue.
Comment
⋅
Big spread bearish bar on 1 Oct 2019 had the character of Effort > with Result<, with a higher low formed, bullish characteristics. Mark up stage is pending.
Comment
⋅
- Supply level is low. - Pending quality demand to initiate breakout in near term. - Expect ease of movement to rally up.