Our expectations: We expect the share price to continue its upward movement, after retracement to diagonal and dynamic support levels, coinciding with a 38.2% Fibonacci retracement. The negativity behind Trump's retirement subsides and the possibility of weaker bank regulations is getting bigger.
Alternative Scenarios: If the price goes back under the diagonal and dynamic backups, the positive scenario will break and more likely to see a decline in the asset's cost.
Comment: Price adjusted to levels of horizontal and diagonal support levels matched by 38.2% Fibonacci correction. The price is 200SMA, with 50 being over 200 - positive. We have a breakdown of a short-term downward channel and a follow-up test. Price Action - Gap in the upward direction and over the upper diagonal of the channel - a positive signal for the price. CCI (50) crosses 0 from bottom to bottom - a positive signal for the price.
SL: 207.40
Jr Trader Petar Milanov
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