As many traders have analyzed, recently nice (double) bounce off trendline extending back from July (perhaps even further if you draw from the wicks - I prefer to draw from the body of the candle) which has staged it nicely as still in an overall uptrend. I believe it's in a good position to push through this resistance band and the temporary downtrend (red line) that's spawned since Feb.
Looking for a solid push through 88-90 and test that band as support before moving further upwards. Hopefully regain its 50 day sma at some point in the next few weeks. MACD looks potentially set for a crossover but that can change quickly.
Looking for a solid push through 88-90 and test that band as support before moving further upwards. Hopefully regain its 50 day sma at some point in the next few weeks. MACD looks potentially set for a crossover but that can change quickly.
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Teetering on the cusp of it's long term trend line.
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