#IBM
The price pivot zone of 121.14 is holding back sellers. The inclined channel of the outgoing pattern is broken. A breakout of the resistance level of 123.44 will result in the formation of a 1-2-3 upward pattern.
Trading recommendations:
Buy above 123.44.
Stop Loss: 121.14.
Target levels: 126.71; 130.00.
The pair is consolidating above the support level of 0.7265 during the public holiday in the US and under the influence of competing factors: the Fed’s soft monetary policy stifles growth, while the strong technical oversold condition prevents the price from dropping.
Technical side:
The price is located below …
Friday, September 4th, today’s news—a major drop hit the American markets, Dow futures are down over 800 points, S&P 500 and Nasdaq Composite down 3.5% and 5% respectively. Negative trends also dominate the European and Asian markets, the US dollar is rising ahead of the employment data release, oil is …
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