Dusk / USD - Past resistance becomes supportFollowing an oversold condition (orange column) on the above 2-day chart we now have an incredible buy opportunity. Why bullish?
1) Price action resistance (orange line) has become support. A very bullish signal.
2) Price action confirms support on the 150-day moving average (thick blue), following a re-test of orange line resistance (a) and then (b) as support.
3) Bullish engulfing candle with Point (2).
4) Volume increases significantly following the oversold condition.
5) RSI support suggests continuation in uptrend until mid-April.
1st target is 10 cents / 100%
2nd target is 26 cents / 360%
