ECX has broken above a long-term, very strong level of resistance which suggests higher prices. An interim target is $2.23. Of interest the pattern price has made is a specialised chart pattern know as a Wyckoff pattern which has its own targetting technique. In this instance that target is $3.45 which would be a phenomonal outcome if realised. Wyckoff suggests we should see consistently higher troughs and peaks since the low in March - and that has certainly proved true to date.

29 September 2020

The price target seen several weeks ago is still in play and with price finally having closed above resistance yesterday, I expect price to continue moving up. The previous potential profit of 26% has been eroded to 10.5% given the intervening rise in price. Risk reward is now marginal for this potential trade – unless you are already in it.

8 August 2020

ECX made a resistance break last Friday with a potential target of $1.83 which is very close to a natural level of resistance and a potential profit on current price of about 26% for a (hopefully) short-term trade. It seems the March low was probably the end of the last price cycle (Elliott Wave C for the efficiandos). Since March price has made a new uptrend and generally higher highs and lows on a weekly chart. Worth looking at.