Wondering whether the arcing movement might produce enough pressure to break out of the underlying bearish trend.
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12 hour MACD has been a good recent trend indicator IMO, and it crossed upwards yesterday. It has only had one weak, wrong cross for a few periods back at the end of April, with good week+ trend prediction back to before the bubble. Unless there is a major news event, I'm weakly bullish though I see big resistance to major sustained upswings starting on the 7/16 through 7/3, where it will end up around 120. No idea after that.