RWE.GR: 18.07.2017
Our expectations: An end of the correction after a 1/2/3 pattern at levels of support signaling a continuation of the uptrend. SL at 16,70
Alternative scenario: A breakout below the main diagonal support will cancel the positive scenario and might lead to a deeper correction.
Comments: An uptrend and correction to 38,2 Fibonacci levels.
Levels of horizontal and diagonal support - a positive signal.
Higher tops and bottoms - a start of a short term upward tendency and a likelihood for a long term uptrend continuation.
SMA50 above SMA200 - bullish formation and a breakout above 50 SMA.
CCI(50) and RSI(14) breaks above 0 and 50 - long.
Trader Nikolay Georgiev
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