broke out of the horizontal channel plus the downward trend line
. Even on weekly it broke out of the horizontal trendline
. With multiple supports @29.25 price can consolidate here and can start going up. Break out was on increased volume
but the price didn't close on the highs which would suggest some supply is coming in as well. RSI
is nearly overbought while price is outside of bollinger bands
. For the breakout to sustain price has to be above 29.25.
All in all bullish
looking chart with some immediate price consolidation or basing possible here. Stop @29.00 gives a good R/R