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MLE has retraced back onto the 200 DMA and 50% Fibonacci support cluster. After a month of tight consolidation and convergence of the 20 - 50 DMA a break of $2.96 would project a swing high target of $3.45 - $3.70.Chart Chat notes are based on our experience of applying technical analysis to the market and are designed to be used as a tutorial showing how technical analysis can be applied to a chart in real time to identify potential profitable trades
MLE has retraced back onto the 200 DMA and 50% Fibonacci support cluster. After a month of tight consolidation and convergence of the 20 - 50 DMA a break of $2.96 would project a swing high target of $3.45 - $3.70.