MPI is consolidating in a bullish Flag pattern, a trend continuation pattern.
- Consolidation may likely continue with downside risk towards 6.40 ~ 6.60 range in the near term.
- Resistance area is around the recent 78.6% retracement (7.10) after the reversal from a Bullish Bat. Harmonic pattern.
Trading Plan
- Buy the breakout.
- Also a potential position play if it dips towards 5.80~6.20 area.
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