Price slides ~30% from mid June peak @ 46. Price retrace to 50% Fibo level. Support at 30 level looks solid Price stay above EMA50 and starting to cross above EMA20.
Volume is picking up. ~50m traded exceed 40m moving average.
No sell signal from Bollinger Band indicator..
Price closes above high of last 2 candles for the first time with +ve force index.
Agreed with volume building up and another 5 days momentum need to maintain. Bullish Harami has formed up further strengthening trend reversal.
But what is your comments on the long red candle on 27th June.
kgiap123
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@Balachandar, that is indeed a brearish candle which need to overcome before further rally. The risk still there but price still maintain above EMA50 witch is a good sign.
But what is your comments on the long red candle on 27th June.