Market is in an uptrend, although it broke the uptrend line. Not sure if this is a fake breakout but since price action is going up, we have two trading options;
- IF it bounces back from the trendline, WE SELL. This is supported by the trendline break
IF it rallies back into the trendline and breaks out of the 50% fib, WE BUY. This is also supported by the fact It has completed two double tops and now bouncing off a major support level.