EW on a breakout galore:
- Breakout from its 4-year downtrend line at around 18.5. Projected target from this breakout is around 24~25.
- Breakout from its major resistance at 18.5.
- Also a breakout from a Rounding Bottom pattern with potential target around 22~22.5.
These are considered significant breakouts due to confluence in breakout levels.
*Major support now at 18.5 (previous resistance prior to breakout now becomes a support).
Trading Plan
Choose a play with at least a 1:2 risk/reward ratio from your entry to potential targets mentioned above.
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