All indicators lining up bullish. Although in a long term descending channel, price broke over local resistance of $44 and now testing it. Above the 4H 200ema. RSI climbing and with space till oversold, obv climbing strongly with no bearish divergence. Above Ichimoku cloud and found support, but twist further left is menacing.
A close below $44 and things will start to flip bearish. Price action has been climbing steadily in a tight channel compressively, this price pattern is weak because Market movers use compression to hunt stops on both side, so the rise is not real.
Further price action is needed to decide the next move.
A close below $44 and things will start to flip bearish. Price action has been climbing steadily in a tight channel compressively, this price pattern is weak because Market movers use compression to hunt stops on both side, so the rise is not real.
Further price action is needed to decide the next move.
