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


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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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