Technical studies support further upside in the pair. We see scope for test of 195 levels.
Price action has broken above 100-DMA at 174 on the .
and Stochs are biased higher and we see +ve DMI crossover which adds to bias.
Close above 100-DMA will see next major resistance at 195 (Jan 28 high) ahead of 206 (38.2% Fib retrace of 375 to 102 fall).
On the flipside, 20-DMA is strong support at 158 levels. Retrace and close below 100-DMA will see test of 20-DMA .
Violation at 20-DMA will invalidate bias.
Good to go long on dips around 175, SL: 160, TP: 195/ 210
I bought at 160 and got out at 188, what hurt me a lot after seeng another bull run. I was scared since I thought it was the top.
I want to enter at 195 again and leave it there.
Do you think it will go back to $300? And why? The head of the h&s will make it get $230. Why do you think it will go up further?
And what is TP?