AU Push From Demand

A few weeks ago AU dropped into demand and after hovering around the area for a while it finally made a move up.

AU

Price dropped into a key demand level but there was a supply level standing right above. Price tested the supply level and came back to demand. When it came back it put in a higher low, indicating a move higher was likely.

Price broke a descending channel on the H4 as well as the last H4 lower high further indicating a change in direction and move to the upside.

Price then pushed higher:

 

After the initial push we saw a steeper retrace last week the price pushed on to new highs.

 

I didn't get the whole move but we took some out of it.

 

I hope you found this useful.

 

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