XEC Sym Triangle Breakdown/Confluence Bounce from Heavy Support

٩ مارس ٢٠١٨

Not a perfect triangle but a B grade. Slightly long biased for a bounce but could drop here too. We can see that 92/91 has been strong S/R in the past and is still acting as it now. Since the beginning of the year it has been very bearish dropping almost 30 points, but with the market rising, it could help with a bounce from here.

1st target 99 - it has traded around this area a lot and a lot of short term highs and lows have been formed around here
2nd target 107.50 - 200sma
3rd target 110 - same as 99 level/50sma
4th target 123 - same as 99 and 110 level.

Ultimately would like to see it at the top trendline.

٢ أبريل ٢٠١٨

ملاحظة

Changed bias for a short out of the triangle if it can hold below this level today.