After breaking the longterm uptrend @ 6,45 (2017-04-26) we dipped down to the next support Zone @ 5,80 (formed of former highs and lows). This Level was bought and a typical Retest of the Breakout Niveau (trendline) @ 6,6 (Ross Hook) followed.
This Retest was sold immediatly. The next downwave broke through the Support @ 5,8 and made a new low near the EMA 200. A bullish wedge was formed. The strong upmove yesterday seems to rigger this wedge - the RSI confirmed that.
Now it is interesting to see how much power this countermove has.Now it is very imortant that APH is trading sustainable above 5,75, respective 6,05.
If APH could reenter the next hurdles @ 6,6 (Ross hook level + 0,38 fibo) and @ 7,00 (Trend and resist formed of former high) that could open the TP @ 8,80.
Trading below the EMA 200 would be really bearish.
This Retest was sold immediatly. The next downwave broke through the Support @ 5,8 and made a new low near the EMA 200. A bullish wedge was formed. The strong upmove yesterday seems to rigger this wedge - the RSI confirmed that.
Now it is interesting to see how much power this countermove has.Now it is very imortant that APH is trading sustainable above 5,75, respective 6,05.
If APH could reenter the next hurdles @ 6,6 (Ross hook level + 0,38 fibo) and @ 7,00 (Trend and resist formed of former high) that could open the TP @ 8,80.
Trading below the EMA 200 would be really bearish.
Comment:
The cyclic signs that we are making a new low...but the rsi is near before a buying signal
