has broken outside of its descending triangle
, and has pulled back to a major resistance level
. Personally, I'd look for candlesticks
for insight into the next move, though a volatility
play might be effective here as well, as the confluence of trendlines
, horizontal support/resistance
lines, and key moving averages trigger enough activity to move the market considerably. For the bulls, I'd want to see a close above resistance and these key moving averages before officially going long.