Break of long term head and shoulders pattern confirmed by MACD signal lining breaking the 0 line and RSI in a clear medium term downtrend but not yet in oversold territory. Fundamental drivers look good, strong data from canada last week, markets pushing out date of fed tightening and positive outlook improving for oil prices.
Target based on height of head and shoulders pattern, stop on close above the neckline gives acceptable risk reward criteria.
Target based on height of head and shoulders pattern, stop on close above the neckline gives acceptable risk reward criteria.
