The daily chart shows price is making higher highs and higher lows since price bottomed out at circa 187.00 in February this year.
The moving averages are bullish with angle and separation showing a strong trend.
With price back at the 8 EMA (black line), we may see a change of sentiment on the smaller time frames if it acts as support.
Failing that, we could see price test the 20 EMA (blue line) before buyers come back in (assuming the bullish trend isn't over).
Targets for longs could be the resistance trendline as shown in the image.
The moving averages are bullish with angle and separation showing a strong trend.
With price back at the 8 EMA (black line), we may see a change of sentiment on the smaller time frames if it acts as support.
Failing that, we could see price test the 20 EMA (blue line) before buyers come back in (assuming the bullish trend isn't over).
Targets for longs could be the resistance trendline as shown in the image.
Low-Cost Trading, for everyone, everywhere.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Low-Cost Trading, for everyone, everywhere.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.