GRAPHITE up or down?

30 jun 2018

Touched all time high of 900 twice. Last swing touched 900 and then gave a lower high. After that again gave lower high forming a triangle pattern. Expecting price to breach the red line (2) and explode to upside retesting 900. We can wait for the retrace after this move and see if green line (2) is respected. If so we can take a position to the upside. However, if on the retrace green line (2) gets breached then we can look for an exploding move to the downside. So no positions for now, watch the movement and by next swing make a decision (ETA one week).

2 jul 2018

Nota

Here is the updated analysis -


This one looks good with today's price action. We need to wait for this swing to complete and watch the retrace before a new position can be thought out.

4 jul 2018

Nota

Wildly bullish, this one went up to 969 that is about 100 points now. Will wait for a proper retrace towards 900 levels. That level was a good resistance before and will now act as good support. More trading opportunities will come.