The last week has been very positive and lucrative, there may have been a few casualties in the Friday morning selling but that was to be expected as FOMO has set in, it was wise to be “Fearful when others are greedy and greedy when others are fearful.” . The lows were the perfect time to be buying and indeed we have orders set once again just above the $225 area as we will test once again if not breech.
One topic we must take not of is the trajectory of the 200MA which has started to turn POSITIVE this is extremely bullish and something we have not witnessed in a long time, a true sustained support goes north not south.
It is also notable that that the RSI has actually played out a perfect H&S pattern and is now backtracking to hopefully hold the middle channel support at approx 66.
In short we remain bullish and will add to any further drops.
One topic we must take not of is the trajectory of the 200MA which has started to turn POSITIVE this is extremely bullish and something we have not witnessed in a long time, a true sustained support goes north not south.
It is also notable that that the RSI has actually played out a perfect H&S pattern and is now backtracking to hopefully hold the middle channel support at approx 66.
In short we remain bullish and will add to any further drops.