The price is currently trading sideways within an uptrend. We can see a bullish momentum slowdown around the resistance area. This can mean two things, the bulls are taking a breather before pushing higher, or bullish momentum is drying up fast and we might see a break of the uptrend line. I will look at lower timeframe to get a microscopic view, but will remain neutral for now.
Note
Price moved back above the speedline support within 3 candlesticks as tested using back testing. If it is a false breakout the price will normally return to above the breakout line in 3 candlesticks.
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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.