For three months the price action remains in a range 72.00$-80.50$ drafting a long consolidation.
We expect the price is running to an area of technical resistance defined by the following:
We expect the price is running to an area of technical resistance defined by the following:
- 0.50% fib reaction of 80.45$-71.20$
50MA seems to be at 75.75$, Monday’s high at 75.78$
14MA (weekly) seems to be at 75.85$
Earlier break down levels exists at 76.25$
Trade closed: target reached