Volatility is picking up here at the second bottom where it formed RSI divergence.
Plus this is in convergence with the formation of a new horizontal line and a downward trendline. the 2 downward trendlines form a falling wedge...
A falling wedge at the bottom of a range makes it look like a spring to me.
There is also the fact that when there is 2 successive consolidations, 1 below the other, it is most likely an accumulation.
There is also a buy signal on the MFI
simple trade.
Plus this is in convergence with the formation of a new horizontal line and a downward trendline. the 2 downward trendlines form a falling wedge...
A falling wedge at the bottom of a range makes it look like a spring to me.
There is also the fact that when there is 2 successive consolidations, 1 below the other, it is most likely an accumulation.
There is also a buy signal on the MFI
simple trade.
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