UK100 has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this position before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target line of around 5922.4724 can be expected within the next 5 hours.
Related Posts
A Descending Triangle has formed, DAX 40 is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
DAX 40 is moving towards a support line which it has tested numerous times in the past. We…
US 500 formed a Channel Up on the 1 hour chart. Retest of support in sight.
US 500 is trapped in a Channel Up formation, implying that a breakout is Imminent. This is a…
Because NAS 100 formed a Channel Up pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher
NAS 100 is approaching the resistance line of a Channel Up. It has touched this line numerous times…