281 4 7
Interesting look. Could be flagging now - 50dma changing slope.
I think Bullish, this is a rounding bottom as Charlles Dow called it. Perhaps an up move rather than a down but hope I am wrong if you traded to the downside.
KLang TradersClub
Yes, I'm aware it's a rounding bottom - that's why I drew it :) It is not, however confirmed. Also, right or wrong, solars are trading with energy. If USO has not formed a proper bottom and goes down, solars will very likely take a hit as well.
+1 Reply
Saw your other idea on AMZN I have a long position on this from the wedge breakout. Hopefully keeps going. Indeed this is a terrible time for energy.
Agree..:) looks like cup formation...ready to make a handle i guess to 46.50 area..:)
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