MA is about to have a death cross in the 1-day chart, but the MACD shows a different signal. It's trying to get above the 0 line which would favor the bull side. The green box is the support zone. If 2 MA really crossed, it's likely to go back to the zone and test it again while having a double bottom, We'd like to see a candle close inside the orange circle if the price goes down. The buying power in the support zone has been shown. People believed the market has entered a new trend and the support zone works. So that the price got stuck when it pullback to that area
The volume to break the neckline wasn't so great. But still, the market made it, and usually retreat would be a good time to buy if we saw the candles stick patterns needed.
The volume to break the neckline wasn't so great. But still, the market made it, and usually retreat would be a good time to buy if we saw the candles stick patterns needed.