An asset I have been watching for over a month now has finally flashed some signals I have been waiting for as it has done something very major that not many will realize until weeks from now and that is that it has broken bullish out of a huge ascending channel pattern. This pattern has kept the price consolidating inside of it since September of last year and appears to be in the process of confirming this on the weekly time frame by bouncing nicely off of $283.43. This is very important because this price corresponds with the .786 fibonacci level, a level regarded as a major pivot spot for swings. Often known to be reversal areas, they can equally be a springboard for higher prices when support is found on this level. And that is exactly what appears to be taking place as we speak.
I have been in a long at $290 with orders waiting around $283 and sub $283 as well.
Potential target area is $295 as a new all time high in the near future, followed by an additional 5% move to $311.
I have been in a long at $290 with orders waiting around $283 and sub $283 as well.
Potential target area is $295 as a new all time high in the near future, followed by an additional 5% move to $311.
