Nice recovery to push us back above 4050; double-bottom looks like a possibility as we close in on H4 divergence.
Low was just short of wedge support so I never sold, although that's not to say we're in the clear. Potential reversal could occur if current H4 candle closes as shooting star.
Weekly MACD still in the red which could set us up for a third bearish candle. We did break lower trend during the week of 11/29 so I assume most sellout was fulfilled.
Low was just short of wedge support so I never sold, although that's not to say we're in the clear. Potential reversal could occur if current H4 candle closes as shooting star.
Weekly MACD still in the red which could set us up for a third bearish candle. We did break lower trend during the week of 11/29 so I assume most sellout was fulfilled.
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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.