This is still a great chart -
Price is pretty much in the pivot zone, a good buy area, ascending pattern clear (flat top with higher lows)
As mentioned before, its crunch time.
Simple psychology, 1.30 is where the market has been holding tight on higher prices, in the meantime as the price fall buyers are prepared to come in and buy at a higher price each time. ...
Great recent push higher has now got the GENL chart the attention its deserves.
As things stand, a potential short term pull back to deal with breakout, then a good push higher.
Best to watch price action but guage for 180 to 200, then potential sideways movemnt while the market digests the recent changes, ultimately it looks like it could reach 250 in the long run.
The recent break of the 900 historical level high is a good thing, although maintaining the enthusiasm is becoming a problem with the RSI deviating quite strongly as price struggles to make mediocre higher closes.
In reality it looks like its running out of steam, added to the equation is that price is higely overextended from its means (trendline and MA's) which ...
Theres definitely something worth planning here.
BUY ZONE reasons for confluence - Rounding bottom patterm followed by recent new price highs, relatively significant trendline, good pivot zone with 100 round number, RSI over bought and EMA's starting to perform in the right order.
Plan of attack -
1. Wait for price to pull back into buy zone - around 100 (good ...
