Now, the question is, with the recent upward movement, will it breakout the box range structure and continue the trend?
To answer that, I count on the behavior of price towards the S/R. And I see price now breaks short term moving average and closed beautifully with strong body (reflects strong buying power). This gives me a hint that maybe...just maybe, this time, the correction already get the bottom and this means, breakout can happen anytime now.
And where it will go after breakout?
112.14 (already marked on my chart)
Psst. Let me tell you a secret. Profits will be on mining business as long as coal price above US$70. And what is the price of coal now?
If profits released on this April 2021 for mining stocks, what will happen to the price?
Coal price rally higher, profits of mining business released and mining stocks ready to be traded.....