Above 200s UPTREND
Below 200s DOWNTREND
I have pointed this out before on the weekly and will again, the 34 EMA has acted as resistance and the 55 EMA has acted as support, the ranging of 2 months has mentally tested everyone, the current situation we are in I am not alarmed at all as we have visited the bottom of the range before, I would like for us to flip the 55 EMA shorterm and getting above the 34 EMA, breaking
42K I personally think the whole boring stage will be over and from there can easily make new ATH.
We are also very very very oversold on the weekly timeframe, I think all the bears are tired and all the selling has pretty much been done!
Below 200s DOWNTREND
I have pointed this out before on the weekly and will again, the 34 EMA has acted as resistance and the 55 EMA has acted as support, the ranging of 2 months has mentally tested everyone, the current situation we are in I am not alarmed at all as we have visited the bottom of the range before, I would like for us to flip the 55 EMA shorterm and getting above the 34 EMA, breaking
42K I personally think the whole boring stage will be over and from there can easily make new ATH.We are also very very very oversold on the weekly timeframe, I think all the bears are tired and all the selling has pretty much been done!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.