ARCH bullish set up both short- and longer-term
After 62% Fib-retracement and break of short-term downtrend, expect at least a test of the long-term downtrend since May 2019 at 55ish. That's the short term.
Longer-term, I would expect to see 55 to be taken out, opening the way to the highs (and, if you really want to offer a stretched view, potential towards the 160 (!) level) above 100.
Yeah, right, we do not want to see the uptrend in the RSI to be taken out - that would be my stop level.
Longer-term, I would expect to see 55 to be taken out, opening the way to the highs (and, if you really want to offer a stretched view, potential towards the 160 (!) level) above 100.
Yeah, right, we do not want to see the uptrend in the RSI to be taken out - that would be my stop level.
Comment:
wow! Now 55 should fall and we will soon see triple-digit levels!
Comment:
Uptrend in RSI still valid, would stay long!