After hitting a high of 2.09 on 1st June, MLT has been consolidating in the past 2 weeks and forming a Bull Flag. The low was in place @ 1.84 (horizontal and 38% fib retracement support there).
It broke out of this Bull Flag @ 1.94 today and looks set to resume it's uptrend in the coming days. Expecting a retest of 2.08 although whether it could break this level in the near term remains to be seen
Long @ 1.95 with initial stop @1.89.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
It broke out of this Bull Flag @ 1.94 today and looks set to resume it's uptrend in the coming days. Expecting a retest of 2.08 although whether it could break this level in the near term remains to be seen
Long @ 1.95 with initial stop @1.89.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
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