NEO/USD has shown a break above major trendline resistance at 109.50.
The following technical studies support further upside:
- RSI strong above 70 levels and biased higher.
- 5-DMA sharply higher, 20-DMA supports uptrend.
- Momentum studies bullish, Stochs are biased higher.
- +ve DMI dominance.
Support levels - 106.35 (127.2% Fib extension of 3.7385 to 84.41 rally), 102.76 (5-DMA), 80.24 (20-DMA)
Resistance levels - 134.26 (161.8% Fib), 214.93 (261.8% Fib)
Recommendation: Good to go long on close above 110, SL: 84, TP: 134/ 187/ 200
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