Good morning all,
Taking a look at the price action this morning it looks like the bulls are trying to gather themselves, as yesterday we saw the retracement from the 8.4k level (as specified in last idea). The 8k-7.9k range is attempting to hold us as support we will see if the bulls show up. This level is seen as the neckline from the inverse H&S from the downtrend correction. If we want to continue to talk about being out of this down trend we need to hold this neck line and use it as support.
The Stoch RSI are in a ascending position. We are currently battling with the VWAP, in which in the last couple days each time the VWAP was conquered and we began trading above it, it caused heavy bullish price action.
Looking for a green day from a bounce of the neck line!
Good Luck Traders :)
Taking a look at the price action this morning it looks like the bulls are trying to gather themselves, as yesterday we saw the retracement from the 8.4k level (as specified in last idea). The 8k-7.9k range is attempting to hold us as support we will see if the bulls show up. This level is seen as the neckline from the inverse H&S from the downtrend correction. If we want to continue to talk about being out of this down trend we need to hold this neck line and use it as support.
The Stoch RSI are in a ascending position. We are currently battling with the VWAP, in which in the last couple days each time the VWAP was conquered and we began trading above it, it caused heavy bullish price action.
Looking for a green day from a bounce of the neck line!
Good Luck Traders :)