Surf within the current channel or breakout form it? for NYSE:MUX by oilyprata

Surf within the current channel or breakout form it?

Will we breakout from this current channel or fail to do so?

If this fails, expect this stock to just move within the current channel.
I also show why 1.35 is the actual next resistance, should we break from this channel.

Note

There is also a rising wedge pattern being formed. which is a bearish indicator on the 1M and 3M chart. So if we dont get enough buy volume, we could potentially break downwards in the short term.

Note

Faced some resistance at 1.35 :D

Note

Double top pattern formed at 1.35, hence the dip. Further dips coming.

First support is at the lower channel. If candlestick breaks past this. Expect further correction.

Trade closed: stop reached

US index correction, is causing all high debt companies, including gold to correct

oilyprata

Related publications

Return to Normality? :) Next resistance at 1.35 USD

by oilyprata

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.