01Jan EDC - Energy Development Corporation

Up trend is still intact if this will reverse this week. Hope it confirms the Bullish Engulfing pattern. We also see bounce from the RSI ascending support line. This is a positive sign that there is still good upward momentum. Another tool I used is Bollinger Band with settings 20, 2... Every time price touches the upper band it reacts and corrects and bounces either at the 20dma or at the lower band. Price is now at the level  of the 20dma as well as the lower band... Let's see if it will bounce... So far the mentioned signals are positive and we might have a good bounce this week. However, if price will move down going to 6, mejo bearish na ako nun lalo na if all indicators are confirming the downward move...

What are Bollinger Bands?

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