Range trade for COSCO?
COSCO may trade the 9.90 – 9.50 range before it will continue with its ascend. Notice that the price seem to have difficulty in moving away from this range. Today we are looking at the Doji candlestick that suggests indecisiveness between bears and bulls. The reason why we speculate it will move sideways at this range is because of the previous movement. Still we believe that COSCO is in bullish mood based on the Ichimoku elements. It just need to rest for a while.
But if our Doji today will not be confirmed then COSCO is off to the next level the 10.17 and above.
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