CPG breaks the slope. Will it continue?

It was August 29 when we saw CPG is trading the range and is at the lower end. It went up but we thought hitting the upper slope will be enough, instead it break the resistance and is now trading above it. Could this be the start of its long journey to a new high or just a failed breakout?

Before looking at the new high, CPG need to break the 1.40 level first. This level, if we remember last year it was very hard to break and a lot of failed breakouts happened. For now our newly found support should hold in case there is a pull back. If not then this will return to its trend.

Caveat!

2 Responses to CPG breaks the slope. Will it continue?

  1. […] 1.4x level seemed to be a big challenge for CPG as what we pointed out last time when CPG broke the slope. The last two candlesticks are not too bearish but if you will see the upper slope which our […]

  2. […] 1.4x level seemed to be a big challenge for CPG as what we pointed out last time when CPG broke the slope. The last two candlesticks are not too bearish but if you will see the upper slope which our […]

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