Mixed and volatile trading has resulted in an Expanding Wedge formation being posted on the intraday chart. This pattern has a bias to break to the upside. On a break through 2.656 the measured move target is the previous swing high at 2.794.
With bespoke resistance located at 2.621, there is ample scope for a corrective dip to the downside before the impulsive rally begins.
It should be noted that with a confluence zone located at 2.847, we could extend higher and the initial target level.
With bespoke resistance located at 2.621, there is ample scope for a corrective dip to the downside before the impulsive rally begins.
It should be noted that with a confluence zone located at 2.847, we could extend higher and the initial target level.