This is as simple as it gets. SUI just cracked the all time high, set in the middle of February. Indicators look good, the 50 MA is support and curling up. The 200 MA is also heading up, both signals of a bull market. A close above $1.974 would be extremely bullish - a blue sky breakout into price discovery. Bulls want to avoid a daily candle closing with a wick above this level and a close below.
As you can see, we have a rounding pattern since the first all time high was sent - a cup. If we now form a bull flag at resistance, we would have a cup and handle - just an idea if we see price rejected here at the highs.
I am keeping a close eye on this.
As you can see, we have a rounding pattern since the first all time high was sent - a cup. If we now form a bull flag at resistance, we would have a cup and handle - just an idea if we see price rejected here at the highs.
I am keeping a close eye on this.
scott.melker@texaswestcapital.com