ALGO to resume uptrend

13 בספט׳ 2020

ALGO found support around .33 and .34 area and broke back above .40 which is a critical level tracing back to beginning of 2020. Prior to the breakout the price action was moving below the moving averages (5EMA / 12EMA), with the breakout back over .40, the price action jumped over the moving averages which signifies a reversal to the up side. Additionally, the 12EMA (short term) crossed over the 26EMA (long term) on the 6HR chart. Probability and analysis is on the side of the BULLS.