longs on EJ -forcast for the coming month.
looking at EJ, it has currently initiated a downward channel. I am currently anticipating 2 things to happen.
CASE 1 -Studying the pattern closely, a head and shoulders pattern could be forming which could cause a rejection and change in direction at @130.500 , dropping down to 128.000 and below.
CASE 2 - we could have this bullish momentum continue to zones around 132.00, respecting the down channel.
** Would closely observe what happens tp price at 130.500 because that may determine the direction.
**** Not financial Advice
CASE 1 -Studying the pattern closely, a head and shoulders pattern could be forming which could cause a rejection and change in direction at @130.500 , dropping down to 128.000 and below.
CASE 2 - we could have this bullish momentum continue to zones around 132.00, respecting the down channel.
** Would closely observe what happens tp price at 130.500 because that may determine the direction.
**** Not financial Advice