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Following up from Friday’s call, we have indeed seen a breakout above the 0.400 psychological resistance level today on top 30 volume. More upside from here on above the 0.400 support level. Uptrend intact in the short term with 20 day MA Line still sloping upwards consistently and MACD indicator also signaling strong momentum especially by crossing above the 0.400 level. Raise stop loss to 0.385 can continue to ride the upside. ;) As long as 0.400 holds as the support for now, we are bullish with more room to go.
As per yesterday’s call, we have seen a breakout above the 0.37 temp resistance, looks set to cross above 0.400 psychological resistance eventually. Range would now be higher from 0.36 to 0.40 before a clearer direction. MACD indicators showing strong positive momentum and uptrend clearly intact with all longer term 100 and 200 day MA line still pointing upwards consistently. May consolidate awhile before staging a further breakout to 0.400 again