Against a background of positive weekly signals this week’s price action has begun in contrary fashion. Mon’s trading was dominated by sellers and Fri’s net gains were entirely reversed. The resulting downside was not, however, deep enough to seriously test the 13 day mvg avg. It is that point coupled with still rising Keltner channels in both daily & weekly perspectives that keeps our technical studies mildly positive.
Buty we need a Buy trigger and so look to buy on dip to .8590 (stop .8558) or a break above .8648 (stop .8615). Potential upside targets above .8648 are .8668 and .8693.