A potential breakout soon?
Yangzijiang has traded back to its consolidation support at 1.23 after hitting a hit of 1.28 over the past 2 weeks. Currently, we are still seeing the 20 day MA sloping upwards which also coincides with the current support level. Those looking to time entry again for another rebound back towards 1.28 can consider near support but stop loss below 1.22 nevertheless. Would be a short term negative if the 1.22 – 1.225 buyers clear out so have a plan for any long positions still. A breakout above 1.28 can see a new high towards 1.34.