Following the bullish crossover, the gap betweenWith a bullish candle formation, the sustenance above the 20-day EMA teases a bullish outcome.
However, the overhead dynamic resistance, the 50-day EMA, is crucial in XEC price action. However, a push could exceed the moving average line. Further, this will increase the triangle breakout probability.
Based on the breach of the 50-day EMA, the 200-day EMA needs to be monitored, too. Over successful breach above both the bands, and a positive trend possibility in the XEC price could advance.
Following the bullish crossover, the gap between MACD and signal lines has started to advance despite the price being in negative territory.
The daily RSI line maintains a positive flow and has breached the median line with 14-SMA smoothened line support. The RSI was at 50.02, if it continues approaching the overbought boundary, an uptick could be seen ahead.
