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.