Hi all,
Today marked the first time since 19th of May that IHL closed above the 21day ema, great sign!
However the volume was quite average today considering such a big move up. Looking for some continuation in the next few days to confirm that the bulls are back.
You can see that we held the .236 fib level quite well and formed a decent base there.
Next target for the daily is the 50day ema at .295 and the .382 fib level at .305. With some higher volume we could see that happen quite quickly however with the amount of volatility still at play im cautious.
Now to the weekly chart
I'd really like to see us push above the 8week ema at .272
We havent closed above that ema since the week of 21st of March and you can see what happened when we fell below it. (Red line)
Like i said, need to see bigger volume before i get too excited but IHL is taking baby steps towards a decent level.
Very interested how the next couple of weeks play out on a macro scale and for IHL.
Big earnings week next week for the US markets and if they are received well then IHL could and should go on a little rally.
GLTAH
