Hi @Fourwins
The breakout of our range is good, cleanly through and on high volume, however it's only part A. The second part, while not required, is always preferred as it solidifies the move and confirms it as a legitimate run. Part B is the retrace and pullback to the top of the previous range to test it as support. Like climbing a tree as a kid, when you got to the next branch above you, you test it can hold your weight before you use it to reach for the following one.
I'd like to see us touch (ever so briefly) the top of the range around 0.044/45 again over the next few sessions before we head onward. While I am confident in the fundamentals, the above scenario would give the same confidence that we will move higher and hold the gains as we go. Again, not necessary but preferred. That level failing to hold puts us back in the range and technically would be a fake-out. I personally think we are on our way as per previous analysis.
DRE Chart, page-812
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