MER breaking through Kumo

MER made a bullish signal when it break from the Kumo today. It also convincingly break the resistance we described last time (MER facing its resistance level again). It is now touching the upper band of Bollinger Band and may walk with the band if it continue to go up. We can’t see any bearish candlestick as of this time.

RSI or Relative Strength Index is about to enter the overbought level so take extra care if you are planning to enter at this level.

Caveat!

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