Price action currently forming a ascending triangle setup on the 1 hour chart. It seems to be a good setup for breakout play.
1. Price currently around the POC (60.69) with key resistance at 60.97 and a big chance of a pop up once these levels break.
2. 35/50 EMA seems to be holding fine with support at 58.96
3. Nice big volume on the last green candle.
Play Ideas:
1. Price breaks 60.67 resistance and keeps going, breaking 64.00 resistance (ATH) then, pulling back to bounce for more bullish direction.
2. Price breaks 60.67 resistance and keeps going, gets rejected at 64.00 resistance
Target1: 64.00 zone if we get a rejection candle.
Target2: 66.40 zone if we get a continuation.
1. Price currently around the POC (60.69) with key resistance at 60.97 and a big chance of a pop up once these levels break.
2. 35/50 EMA seems to be holding fine with support at 58.96
3. Nice big volume on the last green candle.
Play Ideas:
1. Price breaks 60.67 resistance and keeps going, breaking 64.00 resistance (ATH) then, pulling back to bounce for more bullish direction.
2. Price breaks 60.67 resistance and keeps going, gets rejected at 64.00 resistance
Target1: 64.00 zone if we get a rejection candle.
Target2: 66.40 zone if we get a continuation.