MCP moving up but slow

MCP continue to move upwards after hitting the flat Kumo but so far the movement is too slow. Currently it is above the 61.8% Fibonacci Retracement level which is our support while resistance is seen at 78.6% Fibonacci Retracement level. It is crucial for MCP to maintain its price above the 13.37 so that Chikou Span can retain its bullish signal or else we will see one of the Ichimoku elements to give a red light.

RSI or Relative Strength Index is at 59

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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