What I've done is adjust the upper trendline and illustrate the gap down. There was a prior golden long-term demand zone which has been copied down to this adjusted technical analysis.
It looks like there is a rejection off the prior upper trendline that extends back to the gamma squeeze last year. Because the RSI is largely oversold and the OBV is bottoming out, we may see some uptrend here in the short term. But importantly, this bounce is going to illustrate if we will see bullish consolidation or not.
It looks like there is a rejection off the prior upper trendline that extends back to the gamma squeeze last year. Because the RSI is largely oversold and the OBV is bottoming out, we may see some uptrend here in the short term. But importantly, this bounce is going to illustrate if we will see bullish consolidation or not.
Comment:
Bounce off that previous golden demand zone is great to see with good buy volume.