DNL following the upward channel

DNL is up by 3.29% today showing disinterest to the possible reversal cued by the Doji candlestick. The Kumo which acted as a resistance zone was not match for the bulls toady as it pierced through it. Based on Ichimoku system this is a bullish move. It also broke the 61.8% Fibonacci Retracement level which acted as another resistance (now considered our immediate support). Based on our upward channel where DNL is currently trading, there is still room for it to move up. Will it hit 7.20 soon?

By the way RSI or Relative Strength Index is now entering the overbought level.

Caveat!

One Response to DNL following the upward channel

  1. […] DNL following the upward channel, it is now approaching the lower slope or our support line. Will it bounce after […]

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