EG did break below major trendline.
Now it is consolidating and waiting to break another corrective structure
I still believe EG is a long in the long term, but we should see pound improving from being oversold and retest the "bottom" that it made. 200 MA is also acting as support in this case. The 200 is the strongest so there will be a lot of orders here in order to protect daily long termers price.
A good idea would be to add longs as it goes up to previous s/r.
Or add orders below when it breaks.
Now it is consolidating and waiting to break another corrective structure
I still believe EG is a long in the long term, but we should see pound improving from being oversold and retest the "bottom" that it made. 200 MA is also acting as support in this case. The 200 is the strongest so there will be a lot of orders here in order to protect daily long termers price.
A good idea would be to add longs as it goes up to previous s/r.
Or add orders below when it breaks.