Today price finally has broken the trendline with a nice rally. MACD is crossing over, RSI is heading to overbought territory, SlowStoch has a long time to go: we can rally for weeks from here.
We are going to test the May 2015 highs soon.
The only thing makes me a bit nervous: today's volume. It's a low volume. Based on this we might have a testback of the trendline tomorrow around 2060 (and the 10 EMA) which could give a perfect entry point for those who are not in position yet.
I know a lot of people thinks it's topping but it's not. It's just confirmed the daily cycle low and will try to break to new highs.
We are going to test the May 2015 highs soon.
The only thing makes me a bit nervous: today's volume. It's a low volume. Based on this we might have a testback of the trendline tomorrow around 2060 (and the 10 EMA) which could give a perfect entry point for those who are not in position yet.
I know a lot of people thinks it's topping but it's not. It's just confirmed the daily cycle low and will try to break to new highs.
Note
The trendline testback didn't happenWe had a stop run yesterday. Unbeliavable that som many people are still shorting this market.
Note
OOOOOPS!Wrong picture.
Here is the good one:
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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.