Description
⋅ BULLISH outlook:
1. Daily Inverted Head and left shoulder formed
waiting for right to be formed for confirmation.
2. VERY bullish MACD divergence and clean
3. Key supportive line @ 108.000 - last touch was sep-oct 2014
2014, historical support going to 2007-2008 and 2003 - 2005
4. Fib 0.5 level and 108.00 align perfectly with a higher low.
CONS:
Against daily trend for past 6 months
Neckline of the head and shoulder pattern is
aligned with the 50ema, however once broken is
a strong factor for a long thesis.