You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 110.5458 but consider reducing the size of your position as the price gets closer to that target.
Related Posts
Supports and resistances are primary concepts of technical analysis. US Oil is heading for an important price of 65.9135 – read about what this could mean for the future.
A strong support level has been identified at 65.9135 on the 1 hour US Oil chart. US Oil…
Gold Spot is quickly approaching the support line of a Channel Down. We expect either a breakout through this line or a rebound.
An emerging Channel Down has been detected on Gold Spot on the 4 hour chart. There is a…
Important support line being approached by Gold Spot. This price has been tested numerous time in the last 3 days
Gold Spot is trapped in a Channel Up formation, implying that a breakout is Imminent. This is a…