FxWirePro: LTC/USD consolidates break above 4H 200-SMA, good to go long on dips

• LTC/USD is seen consolidating a break above 4H 200-SMA at 175.58.
   
• Technical studies support further upside in the pair. We see scope for test of 195 levels.
   
• Price action has broken above 100-DMA at 174 on the daily charts.
   
• RSI and Stochs are biased higher and we see +ve DMI crossover which adds to bullish bias.
   
• Close above 100-DMA will see next major resistance at 195 (Jan 28 high) ahead of 206 (38.2% Fib retrace of 375 to 102 fall).
   
• On the flipside, 20-DMA is strong support at 158 levels. Retrace and close below 100-DMA will see test of 20-DMA.
   
• Violation at 20-DMA will invalidate bullish bias.

Recommendation: Good to go long on dips around 175, SL: 160, TP: 195/ 210

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