ADM - Tested top twice, a possibility of a breakthrough

88
ADM has tested the 44.99 mark two times and fell back. It is trading in a triangle formation. This is a set up I love for long options trades.

The price is supported by the following:

1) The moving average
2) RSI is in the 60% area. I am okay with it as long as it stays over 50%. I would start to worry if I was in the trade and it drops.
3) The MACD shows stability. Still some buying power.

It had just now tested the top a 2nd time (to form a double top) I would personally wait to see if it goes back to the support at the bottom of the channel and then reverses for better confirmation and a more favourable options contract.

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