Ascending Triangle has formed since 13 June 2022 on Hulamin. There are higher lows and same highs. This means, momentum is pushing on up. Other indicators include: 7>21 >200 RSI<50 - Higher lows Target R3.59 and then R5.40
SMART MONEY CONCEPTS:
Now with Smart Money Concepts, we have something interesting. A LARGE Bearish FVG (Fair Value Gap) has formed on the weekly chart.
What is a Bearish FVG? A 3 candle structure with a down impulse candle that indicates and creates an imbalance or an inefficiency in the market. Between candle 1 and 3, do NOT show common prices.
The price needs to move back up to rebalance and fill the gap.
During this process, it will rebalance and head on up to R3.59. Also the resistance will be broken, which will give way for the price to move to the next target of R5.40.