White line is MVC's entry price.
Highest local top in months! = bullish
While the price fell through the 50 SMA, it was held up by the 128 SMA and bounced nicely. Currently, we are fighting the resistance at the 50 SMA and consolidating right below--suggesting a breakout is imminent.
Unless we fall below the 128 SMA there's nothing to suggest bulls are in trouble.
Highest local top in months! = bullish
While the price fell through the 50 SMA, it was held up by the 128 SMA and bounced nicely. Currently, we are fighting the resistance at the 50 SMA and consolidating right below--suggesting a breakout is imminent.
Unless we fall below the 128 SMA there's nothing to suggest bulls are in trouble.
Comment:
At ~70 we are currently sitting at a very critical level. A breakdown below the 200 SMA would be bad and new lows below 47 wouldn't be surprising. If you were in a long trade, your stop loss should've been hit right below the 128 SMA or you should've exited upon the daily close below the 128 SMA.
