UPP Ltd – Daily timeframe (Update from 18 November 16)
Current Sentiment: Bullish
Support 1: 0.270 Resistance 1: 0.320
Support 2: 0.255 Resistance 2: 0.350
The uptrend continued to move along smoothly after the last update and broke a new high at 0.325 before going into a correction. However, the uptrend remains firmly intact as the 20 and 60 day moving average hold price up. Moreover, the recent bullish rejection off the 20, 60 day moving average on 23/03/17 succeeded in breaking price above the pullback line suggests the resumption of the uptrend next. Additionally, the bullish break was backed by increasing volume.
Expect price to head higher next to test the 0.320 resistance area followed by 0.350.
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