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The_Cannalyst

Trend Continuation vs. H&S

Long
VALE S.A. (NYSE:VALE)  
The_Cannalyst Updated   
NYSE:VALE   VALE S.A.
Support and Resistance Trend Lines
11
0
supportandresistance trendline

The longterm uptrend is still in dominant.
At present we have reached an interesting trading Point:

After kissing the longterm trendline, Vale could break it`s midterm downtrend. So the bullish mood can be continued if the level 9,25 could be overcomed. Above that level a test of the high at 12 could be aimed.
If this level could not be overcomed, i se the danger of forming a H&S

1. Idea Long:
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2. Idea short: anticyclical shortscalp
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3. Procyclical short with stoppsell
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Wach the RSI..he is sgnalizing an overbought situation
Comment:
the first idea was the wright one
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rsi made a seklling signal now
Comment:
Comment:
i think the test of the resist will be sold first...watch the rsi!
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