Dyna-Mac Ltd – Daily timeframe
Current Sentiment: Bullish
Support 1: 0.190 Resistance 1: 0.178
Support 2: 0.150 Resistance 2: 0.190
Price has been moving in an uptrend since September 2016 with the 20 day moving average acting as a springboard. Price went into a correction subsequently after hitting the 0.190 resistance area where a base was formed off the confluence of 20 day moving average and 0.155 support area.
Price has finally broke out of the pullback line and 8 days range with increasing volume on 30/11/16 signals the resumption of the uptrend next.
Expect price to climb higher next to test the 0.178 resistance area followed by 0.190.
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