As title describes, falling wedge pattern developed and could be indicative of a bullish signal, currently the elliot wave oscillator is indicating another short term downtrend (see red arrow). Flat spots on the oscillator have historically predicted another fall before the real up trend begins. Lets see what happens.
Comment:
Broke out of the wedge, lets see if it holds. Looks like the next resistance level is the 38% Fib resistance and there is also a large volume node on the volume profile at the same level. I love it when indicators correlate.
