I agree price has broken out the downtrend channel. Still I'm not convinced of going long here, because of the daily shooting star that has been made.
The daily candle before this one was also very bearish and it looks like the shooting star yesterday was to flush the SL of weak bears. Also we have a nice hidden bearish divergence, if you ask me I will join the bears but opening of next week will be key!
Remember weak CAD is weak OIL and oil looks down...
The daily candle before this one was also very bearish and it looks like the shooting star yesterday was to flush the SL of weak bears. Also we have a nice hidden bearish divergence, if you ask me I will join the bears but opening of next week will be key!
Remember weak CAD is weak OIL and oil looks down...