Buyers are waiting for range to break. As you can see we have had our break out impulse with a correction to .36 cents finding a floor just off .35 with a spike.
Price returned to .46 with a double top fail leading bulls to build up in a range of .36 to .46 (10 cent price spectrum). Price is currently in a pinching bullish flag within the range. A good breakout of the flag inside the range can help carry price above the green dotted line. This will help support bulls to continue to buy in order to break the yellow angular range completely.
Next target for buyers is .51 to .58 cents with a medium TP around .55 cents
Side note: The floor has risen from .26 to .33 cents angular direction and flat at .36 cents in its current range. I will add a buy position at .33 cents if price takes us there. If not I am just holding what I have at the moment. Last year JUNE JULY AND AUGUST price was sideways & bearish before a massive rise in September. Keep in mind price can very well stay within this yellow range back down to the floor with a sideways accumulation continuation before a rise to .55 cents.
Lets let the chart tell us whats NEXT!
I hope you like this idea please like and comment for any questions!
Price returned to .46 with a double top fail leading bulls to build up in a range of .36 to .46 (10 cent price spectrum). Price is currently in a pinching bullish flag within the range. A good breakout of the flag inside the range can help carry price above the green dotted line. This will help support bulls to continue to buy in order to break the yellow angular range completely.
Next target for buyers is .51 to .58 cents with a medium TP around .55 cents
Side note: The floor has risen from .26 to .33 cents angular direction and flat at .36 cents in its current range. I will add a buy position at .33 cents if price takes us there. If not I am just holding what I have at the moment. Last year JUNE JULY AND AUGUST price was sideways & bearish before a massive rise in September. Keep in mind price can very well stay within this yellow range back down to the floor with a sideways accumulation continuation before a rise to .55 cents.
Lets let the chart tell us whats NEXT!
I hope you like this idea please like and comment for any questions!
Comment:
Price carried on the green dotted line as expected and had a bullish break out from there. Now we have broken the 2hr range and bounced off .42 support with a resistance at .45 - Follow my daily chart as well as I believe we are getting a run before the summit that is coming soon.