has recently had a pair of bowling run up over the recent day we have seen prices above 35 cents which totals above a 50% increase. Entering trades at this point could be quite risky as the prices are more likely to take a dip for the short term, you should use the Fibonacci shown on the graph in order to indicate where we could be heading next.
It is likely that we will see I pull back towards the 0.20% on the Fibonacci and if broken we will continue to the 0.038%. This percentage acts as a support which was a previous resistance so we could expect to see some consolidation before another trend upwards.
- Orange - Resistance.
- Pink - Support.
As always trade the lines accordingly.