after 2 weeks of rise seems that the market has had a break and very likely on the support of 80 to resume its bull run in 82.50 area where the vendors are strongly positioned so hardly can break this level throughout the month of August
Lots going on here. Sym Tri in TEAL - yet to break out. Potential Double Bottom in PINK, yet to confirm. BUTTERFLY. Three bullish patterns. Several MA's entwined which I always like to see.
after a week of rising now we are in box 81 of a resistance is not particularly strong so in this case we may have a congestion or a slight retracement then resume its course towards 82.50
according to options contracts open on the level 78 (among which we are also close to a support) sugerisce that there are strong PURCHASE and prices with great probability can arrive up to the resistance area 82.50/82.60
I took a little short position of this washing powder company. But one shall be coutious as we held above the 256 MA and bounced off from the Donchian Channel low. But I consider the test of this important MA as a warning signal that it can finally be broken. The rate could not leave the downward cannel and could not get above the EMA 20. Let's watch how it...
