FX.co ★ Technical analysis of Swatch for July 20, 2022

The Swiss stock of Swatch Group is close to breaking out of an ending diagonal. A clear break above the ending diagonal's resistance line at 45.00 will call for a rally to at least 59.00. In the larger picture, we see Livermore's Accumulation Cylinder which has just completed point 7. This calls for a strong rally towards point 8 which is seen at least at 125.00 and possibly a lot higher.