A nice channel is developing, but it must break above R15 to give me confirmation that it is still in an uptrend.
It's at a major support level now (14) and if it breaks lower then I believe R13 could be tested.
If it breaks lower that should be fine as long as it doesn't confirm a new lower low - I want to see it above R13.20 for me to feel confident.
My stop loss is at R12.50 - at this point, I will cut my losses and accept an 8% loss on capital.
What are your thoughts? Are you a buyer or a seller?
It's at a major support level now (14) and if it breaks lower then I believe R13 could be tested.
If it breaks lower that should be fine as long as it doesn't confirm a new lower low - I want to see it above R13.20 for me to feel confident.
My stop loss is at R12.50 - at this point, I will cut my losses and accept an 8% loss on capital.
What are your thoughts? Are you a buyer or a seller?