We have seen HMI broke above the 0.44 resistance yesterday followed by more strength today before reaching the critical 0.500 psychological resistance level.
We are seeing some profit taking near here at the moment which is normal given the run we has seen over the past few weeks.
20 day MA is starting to slope upwards firmly and pulling away from the 2 longer term moving averages which can show short term trend taking shape.
As long as 0.44 – 0.45 is a support now, a short term bullish with a potential break out above 0.500 still on the cards.
Had a 1ET Bullish Entry signal 6 weeks back before the ascent fyi, see chart below.
May ride further if we see something more….. Protect profits grads if you were locked in….
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