“Sidelined market players can consider purchases when the price pulls back to the trendline because it’s also aligned with the 50-day EMA, predicting a decline into the 27 to 27.50 price zone will offer a buying opportunity. Meanwhile, a breakdown through that support level will mark the end of the recovery effort, exposing price to a decline that tests the 2016 low,” adds Investopedia on OIH.
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