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The short term chart looks fine. On and up, not too extended from the trend. Higher lows, higher highs.
Since SLR broke out of consolidation almost 12 months ago, been a choppy chart.
The recent buy signal (red at 1.02) is a good sign. The last 2 reds have been close to intermediate lows. The previous 3 were sells. Indication of a bull trend.
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On the longer term chart, in the process of breaking out. A higher high with 1.22. Also needed to begin setting a target.
A reversal from here is dangerous as a double top will form and the breakout is false. Taking over 2 months to break out.
A reversal would require a pull back to 1.00 so not expected though sentiment been behaving oddly since October.
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SLR Chart, page-1436
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