-Daily chart falling wedge still in tact
-Potentially bullish reversal candle formed with wick finding support on bottom of wedge which also coincides with 50% retracement of move up off the March lows
1HR chart
-Looking for breakout of regression trend from 5/15 high and a reclaiming of the $9.65 level
-Bullish RSI divergence
-Potentially bullish reversal candle formed with wick finding support on bottom of wedge which also coincides with 50% retracement of move up off the March lows
1HR chart
-Looking for breakout of regression trend from 5/15 high and a reclaiming of the $9.65 level
-Bullish RSI divergence
Comment:
Looks like continued selloff in this one. I am now looking for a test of the 200 day EMA around $7
Comment:
Inverse H&S potentially forming on the 1HR chart. Only big catalyst here is the Covid testing exposure. At the moment, some states seem to be doing well and some are seeing record cases, so a mixed picture at the moment, but market may be anticipating something. Keep a close watch because the falling wedge is steep and a breakout higher could be intense
