Double break out!SP trading above two key levels. Just need to have a confirmation candle of the breakout in tomorrows trade. i.e another close above todays close, green candle. Busy chart below, but a lot to show.
1. SP has broken above the 200sma (blue line). 50s may cross by weeks end or early next week? Thus giving a golden cross! Investors TA que.
2. As posted last week, a pennant flag formed (magenta) and expect a breakout on monday. Lucky guess, or TA? Either way the SP broke to the upside today.
Other key factors;
Candles holding above the 8e (orange)
MACD slight turn up
RSI has head room to keep climbing.
Weekly chart has the 8e about to cross the 20s (no chart posted, end of the week maybe)
Volume was the 'normal' 450k-ish.
BBs were angled up in todays trade, now settled, one to watch.
I'd like to see the SP at the upper bollie tomorrow, 13.68. There is slight resistance at 14.2 (red line) and maybe 15? Then the SP should continue to 17.
AIMO, DYOR, etc.
(20min delay)