KCO.DE 04.10.2016 D1 chart.
Uptrend and correction to 38,2 Fibonacci.
Price on diagonal and horizontal supports.
Probable formation Double bottom to end the correction movement.
Technical indicators:
CCI(50) below 0 as going above 0 will confirm the upward movement likelihood
RSI(14) below50 as crossing above 50 can be used as confirming buy signal
SL 10.40
Alternative scenario: If price goes below supports this will negate the positive scenario.
Jr. Trader Nikolay Georgiev
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