Unrelenting Bullish Momentum for LITPublished On: 23 August 2021, 5:45 PM | Lester Chua, Senior Dealer
- LIT has been on a strong bullish momentum ever since the middle of May with little signs of reversal.
- Drawing a Fibonacci retracement from the low in March to the high in August shows that price is currently hovering around the 78.6% Fib level.
- The upward channel indicates that price is currently respecting the low of the channel, which coincides with the 78.6% Fib level. (Indicated by the green arrow)
- Going forward, we can expect price to continue it’s bullish momentum from its slight pullback towards its ATH before further consolidation ahead.
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