-ECOM has broken out of a 5 year range above $16 resistance
-A pullback was completed into a confluence of support: 50% retracement from March low, 100% extension of move 'A' lower, and the 200 day EMA
-After reversing higher from the confluence of support, ECOM reclaimed the $16 level
My opinion is near term pullback has completed and with a 5 yr resistance being broken, I expect to see a continuation of the explosive move higher from the March low
-A pullback was completed into a confluence of support: 50% retracement from March low, 100% extension of move 'A' lower, and the 200 day EMA
-After reversing higher from the confluence of support, ECOM reclaimed the $16 level
My opinion is near term pullback has completed and with a 5 yr resistance being broken, I expect to see a continuation of the explosive move higher from the March low