PX heading for the next resistance

PX is showing some bullishness as it move up by 6.3% from previous week. The White Marubozu candlestick could be the start of a new rally for PX whose resistance lies at 10.62 or 23.6% Fibonacci Retracement level. The Senkou Span B (flat top Kumo) is quite interesting. Remember that flat Kumo has a strong magnetic force to attract the price. It is promising but for now let us focus on our next resistance.

RSI or Relative Strength Index is at 63.9

Caveat!

The following two tabs change content below.

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.

Leave a Reply

}