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Cycle Trading: Biotech A New Beginning

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Then Biotech began its decline into its yearly cycle low. Biotech printed its yearly low in early February, where it found support at the raising 200 week MA. Biotech has since been consolidating the yearly cycle decline building a base. Biotech has been consolidating the yearly cycle decline for the past 7 weeks. The previous 2 yearly cycle declines also needed to consolidate 6 - 8 weeks prior to rallying. We received our first indication on Friday that Biotech may be ready to emerge out of

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