On 18th of this month, the 152 Simple Moving Average went below the 52 Simple Moving Average, while the price is above the 152 Simple Moving Average, I expect a possible spike to the upside with an ideal take profit at 420.80. If you’re not already in a long position, you could basically wait for a breakout above $317.90 to pick a long term long position with an ultimate target at 410.60. On your way upwards, the key lines to check for possible bounce include $359.00, $389.90 and $400.10. If these lines are broken, then further movements upwards are expected.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Imelda Maseno
Analyst of «FreshForex» company
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