EMP moving inside the upward channel

EMP may bounce from current level as support from lower slope and 23.6% Fibonacci Retracement level is holding the price not to go down any further. The Kijun Sen line is waiting near 12.00 and if price will continue to go up, we might see EMP hit the resistance slope as seen on our chart.

Based on Ichimoku system, EMP is still in a bearish mood but a break from 12 will bring the Chikou Span above the 26-period price. This will give a bullish signal for the setup.

RSI or Relative Strength Index is is at 48.

Caveat!

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felix

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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