Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

Target hit

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 2600
  • Subscribe to this entry
  • Print
This worked out beautifully today and I went long at 63.25p. It's finished today with a perfect hammer right off that main trendline and horizontal support of 63p.

Note how the long term RSI support came into play at exactly the same time lending weight to the move. In addition, after the initial bounce, price dropped back but were again bought confirming that the bears had lost this particular battle.

What I'll look for now is for the RSI downtrend to be tested. A break through that and price ought to follow through its own trendline. 

For now, though, like any candle pattern, this needs confirming tomorrow. Resistances are at 73.25p, 76p and the 79-81p area
Trackback URL for this blog entry.


  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Tuesday, 17 May 2022