EEI still moving inside the upward channel. Currently near the support slope

EEI continue to move within the upward channel. Last Feb 25 (EEI moving inside an upward channel. May hit 127.2% Fibonacci Retracement level) we saw it moving halfway to the resistance slope and finally touches it early this March. After that it retraces and is now near the support level. Will it bounce again?

So far no reversal pattern yet but as soon as it appears and it is near the support slope then there is a bigger chance it will bounce.


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A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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