For the past month price action has been drawing a Head and Shoulders Bottom pattern, with a bull Double Bottom right shoulder confirming strong support around $430.
Far from losing steam, this bullish indicators have lead to a price breaking without flinching the December long term downtrend and flirting for a week now with the H&S neckline and Fib .5...
Short term:
Price is currently reaching the long term downtrend line, a long term resistance line and a Fib retracement line, i.e. strong resistance.
For the past two weeks, we've been in a quasi sideways market with slightly lower highs and lows, and a recurring 4-days period between a low and consecutive high. We're also currently at a high or said...
December 13 downtrend continues. No sign of reversal. Recent bull runs have always ended up losing steam quickly.
Last days lower lows are leading price into a series of recent strong support levels.
This might result in a number of bull runs, potentially ending up being dead cat bounces.
As we reach lower lows and stronger support lines, the potential for...
