economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Upside Channel Breakout Possible An upside breakout would signal a breakout of the rising parallel channel that shows some degree of symmetry within the price structure of the uptrend. Caution is warranted as there is a strong risk of a false breakout. Nonetheless, the next higher target zone is from around $4.70 to $4.72, derived from two extended Fibonacci levels. A little higher is a potential significant target zone as it would complete a 38.2% Fibonacci retracement of the full decline that began following the $10.03 peak in 2022. The 38.2% level is at $4.77. Bullish Monthly Signal Today\u2019s rally triggered a bull trend continuation signal on the monthly chart (not shown) as last month\u2019s high of $4.78 was exceeded. A daily close above that high will provide some confirmation of strength indicated by the upside breakout. Moreover, notice the pullback to a new retracement low of $3.74 on Monday that occurred before buyers stepped in and took back control. A decisive bull breakout of a small wedge followed, and the day ended in a strong position near the highs of the day. Can demand remain strong enough for a breakout through the top of the channel? Possibly. But it may then quickly run out of bullish momentum. However, it will depend on whether it occurs before a minor pullback or not. Slingshot Setup The initial decline yesterday that occurred before a sharp rally was a clue that bullish momentum could accelerate. There was a confluence of several indicators around that price area, including the 50-Day MA, 20-Day MA, and 50% retracement. When multiple indicators point to a similar price it tends to be significant. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":37469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-37468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/37468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=37468"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/37468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/37469"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=37468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=37468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=37468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}