Noble Group seems to have completed the retracement and found the support at 61.8% Fibonacci Retracement Level.
Bullish Signals- Noble Groups moves above 20D, 50D and 200D SMA.
- 2/5 EMA show bullish up trending signal.
- MACD is showing bullish signal.
- If Noble Group clears $1.12 resistance, price target is $1.32 (161.8% FR)
- Noble Group may be forming a Head and Shoulders with neckline at about $1.00 (also the 61.8% FR level). Head and shoulders are a potential reversal pattern.
- All 3 MAs are not all sloping up and still in consolidation mode.
- Watch closely whether there is reversal between $1.08 to $1.12 because this may be the formation of right shoulder...
