1: is sign of weakness on down trend channel 2: consolidate buildup on that zone, if break onthis channel with high volume 3. I will wait for retest on that channel make sure is not a bulltrap
If go down must be want to retest 31k level must not break that zone else it may invalidate the weakness of downtrend and continue further godown
########################################################################################## DISCLAIMER: This is NOT FINANCIAL ADVICE.. THIS IS FOR EDUCATIONAL PURPOSES ONLY ##########################################################################################
As soon as RSI goes into the overbought region which could happen soon by the looks of it, we are going to see another major bearish trend so this is a good time to capitalise I feel.
KrisAnalysis
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@Mudrex, Yup I think the Overbought RSI will bring us to break out of this channel and major horizontal resistance then go down to retest it.. in case in continue going up.. but its more better if it builds up more before breaking this out