Approaching the second Resistance. Still Long.

21 ביוני 2018

An inverted Head and Shoulder was completed on 1H and the price is now trading sideways on its 6,700 - 6,800 neckline (CCI = 17.8139, Highs/Lows = 0). 5H remains a Channel Up (RSI = 57.768, Highs/Lows = 15.8509) serving our bullish purpose but a new Higher High near 6,960.40 is required by tomorrow in order to sustain the trend (TP = 6,989 and 7,309.30). The volume has decreased (18.71K) but the price is still being rejected near the 6,900 Resistance but supported on the 6,500 support. Based on the similarities between the two identified patterns, we expect a Resistance test next.