Recent price action: Bullish
Pattern: Potential inverse head and shoulders.
Long-term momentum: Bullish
Short-term momentum: Bullish
Bias: Long
Action: Ride current U.S. trades to weekly resistance, sell, then rebuy after price finds support again. Would be nice for price to retest 29 EMA for support.
Comments: Price is finally trading above all EMA’s. Price is approaching an area of resistance that has held almost one year (late June/early July). There will definitely be a rejection there, but after price finds support, continue the buying.
Pattern: Potential inverse head and shoulders.
Long-term momentum: Bullish
Short-term momentum: Bullish
Bias: Long
Action: Ride current U.S. trades to weekly resistance, sell, then rebuy after price finds support again. Would be nice for price to retest 29 EMA for support.
Comments: Price is finally trading above all EMA’s. Price is approaching an area of resistance that has held almost one year (late June/early July). There will definitely be a rejection there, but after price finds support, continue the buying.