Looking like a reversal is possible up here, likely, with a possible fake-out to the 398-399 range.
Tons of volume (effort) went into locking up the price in a tight range (result) to close trading on 3/16.
Result of recent price action is the formation of two separate, distinct rising wedged formations that can entice breakout traders to go long at the same time short-sellers and possibly institutions are feeding the demand.
Main channel coded in yellow.
Secondary channel is dotted-red.
Green trendlines show the rising wedge formation(s).
Various high volume (liquidity zones) are shown above and below price.
Tons of volume (effort) went into locking up the price in a tight range (result) to close trading on 3/16.
Result of recent price action is the formation of two separate, distinct rising wedged formations that can entice breakout traders to go long at the same time short-sellers and possibly institutions are feeding the demand.
Main channel coded in yellow.
Secondary channel is dotted-red.
Green trendlines show the rising wedge formation(s).
Various high volume (liquidity zones) are shown above and below price.