Mosaic (MOS) is in its third session of consolidation after rocking Wednesday morning above near-term resistance at 65.40/45 up to 68.50/60.

Based on my intraday work, the orderly digestion period between 68.00 and 66.00 looks like it is nearly complete, which if accurate means that in the upcoming hours MOS should thrust to the upside towards my next optimal target zone of 70.00-71.00.

Only a break beneath 65.70 will compromise the developing bullish pattern.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.