After a long period of consolidation, the model suggests that there may be a breakout upwards towards the 6.89 level. A alternate scenarios would be that prices continue to trade in the narrow consolidation range or that the price breaks down towards the oversold level.
The model suggests that the price may retest the recent bottom at around 16.557. An alternate scenario would be prices making a sustained move above 16.809.
Support may have been found at the 2.85 level. The price is expected to continue higher to 2.93 with resistance at 2.96
Double top at around historical resistance levels. A retracement down is expected.
Historical Resistance level reached. A retracement down is expected.
The price is close to historical support (dotted lines) . Looking for a break above the blue bar. Target around 4.79 where there is a historical resistance line close by.
If key resistance holds then a pullback is expected as shown by the blue bar.
If key resistance is broken then prices may head towards the 11.59 level.
Signal Setups 