A bullish engulf with strong dynamic support from bullish trend line may help in breaching of weekly resistance. bullish channel is holding grounds firmly.
My Bias: Long
Reason: Bullish Momentum, Bullish structure integrity.
On a flip side, once the trend line is breached "southwards" and a failure upon testing the bullish trend line, may somewhat indicate that bears are gaining strength.
A strong rejection from weekly resistance may also send buyers down to seller's domain.
My Bias: Long
Reason: Bullish Momentum, Bullish structure integrity.
On a flip side, once the trend line is breached "southwards" and a failure upon testing the bullish trend line, may somewhat indicate that bears are gaining strength.
A strong rejection from weekly resistance may also send buyers down to seller's domain.