Opened a position today when the price bounced off the daily MA50.
Currently it sits right on a support line which also acted as a resistance the last couple of month.
Since it just broke through that resistance a week ago I see the current pullback as a retest of this area so that it becomes support.
On the weekly I recognised a slightly rising wedge (please let me know if it is feasible to ignore the breakdown in march - the circled one).
The PA needs to make a decision which way it wants to break the wedge cause we are getting close to its peak.
I believe in an upward move since the trend seems to me slightly bullish.
Entry: 60.85
TP1: 65
TP2: 68
SL: 57
Currently it sits right on a support line which also acted as a resistance the last couple of month.
Since it just broke through that resistance a week ago I see the current pullback as a retest of this area so that it becomes support.
On the weekly I recognised a slightly rising wedge (please let me know if it is feasible to ignore the breakdown in march - the circled one).
The PA needs to make a decision which way it wants to break the wedge cause we are getting close to its peak.
I believe in an upward move since the trend seems to me slightly bullish.
Entry: 60.85
TP1: 65
TP2: 68
SL: 57
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