LEL's price action has confirmed strong support at the 0.550...

LEL's price action has confirmed strong support at the 0.550 level, multiple divergences followed by small rallies.
The latest of which has broken a long term bearish trend. Said trend has formed a falling wedge that I and a few others have been monitoring for months.

The latest rally has broken and found support at the 100EMA, previously rejected level. 200EMA is still a resistance level, however we are seeing a consolidation between the two levels, which could indicate a further continuation.

Chart is creating lower highs, whilst RSI is creating higher highs, slight hidden bearish divergence, confidence is not strong.
Considering LEL's relatively low trading volume during both its recent rallies that where met at the 100EMA, it's to be expected that this move will fizzle and touch 61.8fib.

Both recent rallies I have called a day before their move, I expect a future move will be the result of a bullish divergence. LEL has formed divergences in the past that resulted in major moves. (May)

I'd assume by the end of trading week, it'll be clear if we are going to re-trace to a lower level, or maintain our current trend.


NFA,DYOR