Nike had been ranging between 70 to 63 price zone for the past few weeks. Recently, the price finally broke the 70 ceiling point and headed upwards. There were already signs to indicate this upcoming breakout with gradual uptrend within the range movement. I’m expecting a pullback to the 70 region which will be a resistance turned support region and the price will continue its uptrend. Another scenario would be a minor consolidation would occur between 71.6 to 70.5 price range before heading uptrend again.
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I had decided to close the trade early due to the unstable markets expected ahead.