Pivot point: 5.0
The preferred scenario: Entering long positions at the highest levels of the 5.0, targeting the levels of 5.70 and then the 6.20 as a second price target.
Alternative scenario: Entering short deals below the 5.0 levels, targeting the 4.40 levels as an initial price target.
Commentary: Al-Eos is still maintaining the general bullish trend through the ascending price channel, which worked to raise the price from the 3.80 levels to the 5.33 levels, which ended trading Yesterday, Friday, then, to start today’s trading to test the 5.0 levels, which actually succeeded in consolidating at it, so we are expected to witness more rises to reach the 6.20 levels in the near term, especially in light of the price consolidation above the moving averages (50-100), which Supports the positive outlook for the EOS trading against the US dollar in the short term.
