Interra Resource Ltd – Daily timeframe (Update from 10 June 16)
Current Sentiment: Bullish
Support 1: 0.077 Resistance 1: 0.088
Support 2: 0.072 Resistance 2: 0.093
Price has turned into an uptrend recently since August 2016 as the 20 day moving average crossed above the 60 day moving average on 06/10/16. Thereafter, price has been kept in the uptrend firmly by the 20 and 60 day moving average repeatedly holding price up. The 31/01/17 Bullish Engulfing bar rejection off the 20 and 60 day moving average succeeded in breaking price above the pullback line and 0.080 immediate range high suggests the resumption of the uptrend next.
Expect price to trend higher next to test the 0.088 resistance area followed by 0.093.
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!Featuring regular TA posts and requests to analyse specific stocks