CHN ready to runCHN has demonstrated encouraging developments after emerging from a descending wedge pattern, bolstered by a bullish RSI divergence and the formation of a bull flag on the hourly chart. Furthermore, the daily chart reveals hidden bullish divergence, complemented by support from a trendline established in July and a .05 Fibonacci retracement level. A decisive move above $2 would serve as a strong indicator of a structural shift, potentially paving the way for a more substantial upward trend. Good luck and happy trading! 🍀
CHN
CHN.ASX_Retracement Trade_LongENTRY: 7.95
SL: 7.05
TP1: 8.91
TP2: 9.34
- ADX<20. Would like it to be higher.
- RSI<50,RSI>30
- Daily RS +ve
- Daily FFI -ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI -ve
- Weekly MACD -ve
- Broke out of downward channel on 9 Nov 2021 before on another downward channel currently.
- Retracement in 2nd downward channel looks well controlled and possible BIC on 10 Feb 2022 near the 200MA.
- Once clear HVN, it should move to the top of the current downward channel.



