Price has been trading in the bearish channel trend since May of this year. Now price is trading just under a key resistance level. In which, price spiked to touched the resistance level last week. Nevertheless, there is still a significant amount of room for price to run in the coming weeks.
Trade Step-ups:
Bullish Breakout: Price breaks current resistance level, look for consolidation above 235.00.
Bearish Reversal: Price rejects a bullish breakout. Look for a bearish reversal to 180.00 & 165.00 respectively
Trade Step-ups:
Bullish Breakout: Price breaks current resistance level, look for consolidation above 235.00.
Bearish Reversal: Price rejects a bullish breakout. Look for a bearish reversal to 180.00 & 165.00 respectively