As MEG continues to trade in its 3-month Downward Price Channel, a potential Bullish Divergence pattern is developing after retesting the support at 4.80 (4.7~4.8).
See previous MEG analysis for reference:
https://psetrends.blogspot.com/2018/02/meg-price-action-update.html
Trading Plan
- Buy the breakout from its Downward Price Channel on good volume.
- For position trade, accumulate the dips near support area and set the stop-loss a few points below 4.70.
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