• Nice upside of the MCD in the last weeks.
• It looks like a flag formation beginning April at the 61.8% Fibonacci Retracement
• The gap before the flag formation showed a nice support at USD 242.95/244.77
• 50 MA is turning positive and will cross the 200 MA soon if the upside is continuing
• Outbreak of the flag formation was with higher volume which is supportive for the continuation
• Price target at around USD 280
• Let’s see if the price can break through the resistance of the 100 MA and the 76.4% Fibonacci Retracement in the next days
• It looks like a flag formation beginning April at the 61.8% Fibonacci Retracement
• The gap before the flag formation showed a nice support at USD 242.95/244.77
• 50 MA is turning positive and will cross the 200 MA soon if the upside is continuing
• Outbreak of the flag formation was with higher volume which is supportive for the continuation
• Price target at around USD 280
• Let’s see if the price can break through the resistance of the 100 MA and the 76.4% Fibonacci Retracement in the next days