Scotts Miracle Gro had a very strong upmomentum for many years. Two weeks ago Scotts was not able to overcometh the last High - the result is a Double Top
. After testing the last High, Scotts made an ugly downgap, broke through it`s uptrend and kissed the EMA 200. Trading below that EMA is a very weak Signal. At the actual Level also is based the min. correction fibo 38,2 - perhaps here the downmove could be stopped. If not, the next Support at 82,5-84USD could be aimed.
The Chart only brightens with Prices > 90 USD
Longterm view:
. After testing the last High, Scotts made an ugly downgap, broke through it`s uptrend and kissed the EMA 200. Trading below that EMA is a very weak Signal. At the actual Level also is based the min. correction fibo 38,2 - perhaps here the downmove could be stopped. If not, the next Support at 82,5-84USD could be aimed.
The Chart only brightens with Prices > 90 USD
Longterm view:
Comment:
Yeah!!