Looking for this to run back towards the top of this sideways channel. Getting a good bounce off of 190 support. Looks like it just broke the short term down trend. MACD
is looking for a bullish
cross over with one more leg ups above 196. 196 will be tough short term resistance. There is bullish divergence
formed on the MACD
. The 9 EMA
is about to cross over the 21 EMA
and the price finally broke above both of these today. Entered at 195 break and may look to average down if we get a bounce off of 194. SL is currently at 193, but may also adjust after tomorrow's trading day. After the break of 196 this should have a smooth run to test 200 again. Will start to see a lot of resistance around 200 so may take profit at 198-199 if resistance looks strong early on.