- SMA's gathered together tightly, which is a sign of imminent and sharp price action.
98$ is a strong resistance but has been tried many times and got weaker.
The resistance on the RSI got broken after a long time.
Volume is tiny but still not very bad. A higher volume in the resistance breakout can still render the setup stronger.
You can consider buying either when the resistance is broken or the price drops back to the trend line.
Comment:
The best entry would be either after the breakout & retest of the resistance at 98$ or any drawback to the trend line.
Comment:
If there is to be a reversal, now is a good time. We are at the trend support as shown in the chart.
