Bullish breakout setting up
Price has consolidated, forming an Ascending Triangle.
As Price is above the 200EMA, I anticipate a breakout to the upside and will seek confirmation of the breakout with a close above $42 (orange line).
Target #1: ~$45 (Closing the gap down from 6th March lows)
Target #2: $50 (Confluence zone of 61.8% from Jan highs + 127% fib extension from April lows) [THIS NEEDS MOMENTUM CATALYST]
As Price is above the 200EMA, I anticipate a breakout to the upside and will seek confirmation of the breakout with a close above $42 (orange line).
Target #1: ~$45 (Closing the gap down from 6th March lows)
Target #2: $50 (Confluence zone of 61.8% from Jan highs + 127% fib extension from April lows) [THIS NEEDS MOMENTUM CATALYST]
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