After a long flag pattern, The FGBL is facing a consolidation after testing two times a resistance on the top which allowed the BCD pattern to form an ascending triangle. If the volumes are important, the increasing behavior will continue until breaking the upper resistance (in black) to reach the target (point D) which is the intersection between a recent...
From a large perspective (weekly or daily on a large period of time) FGBL is increasing.
But for the moment (and in a short period of time) it's following a trading range ... Waiting for some volumes to change the behavior.
the FGBL has crossed 3 Fibonacci levels (vertical green arrow), then has been slowed by the 177.19 bar, I believe that the behavior will continue being inclined-up to reach the 177.19 level and go over it.
Of course, a great volume from buyers is needed to achieve this target.
The FGBL is growing in an upward trend. The hallway of growth limits the evolution of the FGBL.
So, what we expect is that the FGBL will continue playing inside that hallway, but in an increasing trend in long term.
If the FGBL breaks down the secondary support, it will decrease so that it bounces on the support S1.
But, if it can break the...
The FGB Future is right now showing signs of a quick increase, So for intraday trading, it seems a good time to buy it, but we should wait for the other signs (Red candle and red volume) at which we need to be a seller.
Right now, it’s time to buy FGBL and I repeat for quick intraday trading.
If the price breaks the R1 and then the R2 resistances,...
FGBL is showing in long term a good investment. Since 5 Jun, the evolution is limited with pitchfork indicator. So buying FGBL contract would be a perfect choice.
My advice is to buy FGBL and keep an eye on its evolution in case of any break of the pitchfork hallway, with higher level of volumes.