Quick update!
https://www.tradingview.com/x/ARHuSWJ8/[\image]
I am not liking the action of the past 12 hours, so I closed my long position.
- We got a (downwards) triangle break, to test the (magenta) line, that marks the trend line of this "bull run".
- That break was followed by a +/- 5% run-up, to test the 12,100 level. However,
** Volume has been weak.
** We bounced off the 12,100 level and are currently consolidating near the 12,000 level.
You can argue that we are forming a bull pennant, but I don't trust it.
I prefer to watch it from the sideline.
Note that the Weekly, Daily, 4H and 1H RSIs are all above .70.