Jumping out at 3650, based on basic triangular analysis along lines of resistance.
Ideas only, not advice, but open to comments.
Long term, nearing end of pennant, so expect consolidation along central line, watching for breakout either up or down.
Ideas only, not advice, but open to comments.
Long term, nearing end of pennant, so expect consolidation along central line, watching for breakout either up or down.
Comment:
disappointing stall at 3600, brace yourselves for a downward breach of the bottom resistance line
Comment:
Updated as requested @gegene - despite taking longer than suggested, the 3600 limit was triggered with a jump to 3800 - strong movement which could suggest a breakout is on the cards over the next few hours. This would be supported should we see a sell-wall develop on the next downtrend - the higher the wall, the more potential for a strong breakout to occur.
However, should there be a collapse past the lower support, this could indicate a consolidation settling around 3500-3600, or a sell off. However, ENG is a good platform in humble opinion, so I would suggest people would hold rather than sell at this stage.
Opinion not advice ;)
However, should there be a collapse past the lower support, this could indicate a consolidation settling around 3500-3600, or a sell off. However, ENG is a good platform in humble opinion, so I would suggest people would hold rather than sell at this stage.
Opinion not advice ;)