its been a while the tourism industry is suffering from travel restriction and border lockdown due to spread of Covid19 Virus. It seems there is still potential new regulation that may effect the airlines and tourism business before it really completely safe for everyone to travel. According to the previous forecast, the price was tumbled and endured on EMA 200 Monthly and eventually reaching the new resistance at 159 along with the optimism vaccine and global economic recovery. The pattern of inverted head & shoulder is potentially formed on the time frame monthly if the price had rejection on the current all time high and once there is false breakout on the new resistance, the price tend to do the major correction at time frame daily, till the major pattern is completed to do breakout at it's neckline. The optimism of vaccines brought a confidence to the airlines and tourism industry and for sure the new regulation from government related with the travel permission to cross the country border may effect the major correction on time frame daily and retesting support area on EMA 10 Monthly (120.0) or FR 38.2% monthly (102.6).
Once the pattern is completed, we expect a rally happen on the bull trend on time frame daily at key support 102.6. Will the price break the price at all time high ? and what will be the trigger ? will year 2022 the strongest year of tourism industry ? it seems everyone is ready to pack their luggage once everyone got vaccinated this year !!
Disclaimer ON!
Once the pattern is completed, we expect a rally happen on the bull trend on time frame daily at key support 102.6. Will the price break the price at all time high ? and what will be the trigger ? will year 2022 the strongest year of tourism industry ? it seems everyone is ready to pack their luggage once everyone got vaccinated this year !!
Disclaimer ON!
