Forex_Academy
Long

NEO breakout attempt

BITFINEX:NEOUSD   NEO / U.S. Dollar
NEO edges higher after the failure to reach and retest once again the downside line of the minor down channel and after the false breakdown below the 50% line. Personally, I believe that only a valid breakout above the downtrend line and above the median line (ml) will confirm a further increase. Price needs to stay above the LML because a valid breakdown will invalidate a further increase. The next major upside targets will be at the 50% lines and higher at the upper median line (uml).

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