We're currently meeting resistance at $0.42, and $0.45. Once we're clear of $0.45, $0.59 is the next point of resistance. There are 2 ways in which we could get to this point:
1. in a week: if commodity prices keep rising in the face of increased inflation expectations, we'll blow past $0.45 to $0.59 in a week.
2. in late March: this is the more conservative path for the market
Alternatively, we could also continue trending sideways until late January providing ample opportunity to buy more in the $0.38 - $0.41 range, however, since the last 2 trading days were in the green, we're probably going to see 1. or less likely (IMO), 2.
1. in a week: if commodity prices keep rising in the face of increased inflation expectations, we'll blow past $0.45 to $0.59 in a week.
2. in late March: this is the more conservative path for the market
Alternatively, we could also continue trending sideways until late January providing ample opportunity to buy more in the $0.38 - $0.41 range, however, since the last 2 trading days were in the green, we're probably going to see 1. or less likely (IMO), 2.
Trade closed: target reached