VladimirRibakov
Short

Bayer Buy Idea

BAYER (MIL:BAY)  
MIL:BAY   BAYER
H4 - We have a classical scenario divergence followed by convergence.
We saw two waves up already.
Breakout of the range that formed after the first bullish leg.
Price is now consolidating and divergence has started forming.

H1 - There is a down trend line to follow
There is already continuing divergence forming.
I expect the price to find a bottom around 108.85 - 109.50 zone.
Breakout of the trendline could provide buys but only after the zone mentioned above has been reached
To be more conservative use the double TL principle.
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