Weekly chart with a large downtrend getting ready to break out on $O. MACD has crossed and all VWAPs and EMA cloud are supporting price. Only a matter of time. in my opinion
Note
Feels like the pressure is building up on this one.Note
Emerging out of the downtrend.Note
Peeked its head over then retraced to the trendline. Now we get to see if this is a touch and go or a full failed breakout. IMO, the volume profile suggests that this is a touch and go due as its going to be hard to break through those price support levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.