Suku broke out of a falling wedge here. Earlier charts I've posted were expecting 10-11 cents, even up to 13-15. Let's see if it finally gets there after the long consolidation from its move up earlier in the year, in January.
Some confluence from the OBV indicator to support this - on balance volume has been consistently rising throughout the consolidation within the wedge. Note that last time OBV was at this level, back in January, was when we saw the last larger move up.
Going against this - DXY may be in for a strong move up soon. It could be delayed or even move down instead, but if it gets a strong move up, I imagine this is going down, or at least not going much further beyond the previously mentioned targets.
This applies to pretty much everything right now:
Some confluence from the OBV indicator to support this - on balance volume has been consistently rising throughout the consolidation within the wedge. Note that last time OBV was at this level, back in January, was when we saw the last larger move up.
Going against this - DXY may be in for a strong move up soon. It could be delayed or even move down instead, but if it gets a strong move up, I imagine this is going down, or at least not going much further beyond the previously mentioned targets.
This applies to pretty much everything right now:
Comment:
There is also the possibility of a larger move up to 18 -> 28 cents, dependent upon the first move to 10-11 holding and DXY not shooting up to new local highs:
