a tiny head and shoulder pattern appeared towards the conclusion of the current wave.It is very likely that we will witness a price correction or reversal as high as the peak at about $130.
The support rests at 129.52 with resistance at 129.71 which the Pivot Point at 133.20 is located below the price line. The EMA of 10 is moving in bullish bias in ascendant channel and it is reaching the EMA of 100 and is below the EMA of 200. The RSI is moving in high ranges, the MACD histogram is in positive territory with the signals showing upward momentum and the Stochastic is moving in overbought area. The ADX is showing the upward momentum.
The price is above the Ichimoku Cloud and the Chinkou Span far away the market price. The Tenkan-sen and the Kijun-sen are both showing an upward momentum.
• There is resistance at 129.71, followed by resistance at 129.79 and 129.90.
• There is support at 129.52. Below, there is 129.41 and 129.33.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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