Evraz Still Climbing
Evraz PLC advances higher yet again, using the 50 daily as a ladder.
Price has not gone down to test the 200 daily which is a good sign of a strong uptrend.
It is common for price to use the 50SMA as support in a good uptrend which is what is occurring here.
Since the last break of resistance we are seeing more strength and if we see a pullback, there may be a retest of the
resistance which was previous support. This also coincides with the Previous all-time high set back in January 2012
so may prove to be a hard level to contend with.