MTN - Potential Long Position coming up

6 באוק׳ 2023

A 5 fractal formed on the 29th of September which caused us to draw a downwards resistance trendline. This line was broken yesterday after it formed a bullish engulfing candle on Wednesday. This engulfing candle is at a strong support level so it bodes well for an upward move. We are still waiting for the trade to be triggered. If it doesn't trigger today, I'm sure it will trigger sometime next week. Our target is up at the R129 level which coincides with a nice resistance level.