Time to WEED out the bears.
Updated
So as we can see, there was a nice positive consolidation between the current support and resistance channel, with quite strong buyer volume all day long. This has formed somewhat of a bull flag. There is a good possibility that we will re-test resistance again, however, this is somewhat necessary to confirm the third point for a new possible upward trend line. There was zero green shadow on the closing candle, with high green volume. Tomorrow will probably push above resistance, but as I said, may not close above. If it closes into the 78.6% retrace, we will be inherently safe at 31.00.
Thanks for viewing my charts!
Thanks for viewing my charts!
Note
Closed at 31.10, Hopefully we can bounce.
Related publications
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.