UPL potential breakout

1 août 2020

UPI making HHs and HLs over the last few weeks. Now its above the 200 EMA, and at the junction of a trendline and a support line. strong correlation. next resistance at 498. SL at 462 and then at 438. Lets see how this plays out. There is also increase in volume. so more confidence in the upmove.

6 août 2020

Note

thesis rejected as it did not sustain above 200 EMA. next entry only once it crosses 200 EMA. first SL hit.