• Price is at a critical level • Lots of work ahead for the bulls to turn the trend in their favor • Some signs of trend reversal • 10 SMA (blue) acting as a short term support and pointing upward • 50 SMA (red) major resistance to overcome, capped prices since the April crash • Next mission for the bulls is to re-test and penetrate the ascending channel that was previously broken
• First bearish scenario: Prices will re-test the support trend line and fail to penetrate, and fall again • Second bullish scenario: Bulls successfully entering the bullish channel again, and getting consecutive daily closes above the 50 SMA