''Watch the red line'' was the key from my previous analyses and once broken a jump was ssen tot the longer term downtrendline.
After some profittaking the market is again testing it (0.0386). Ofcourse, a close above this line is helpful for bulls and when looking at yesterday's volume it seems likley to happen soon.
More important however is that market will set a higher high after the higher low just set. I.e. a move over the latest high (0.0436) will really confirm momentum has shifted to bulls and expect a test of 0.0500/0.0550 after.
After some profittaking the market is again testing it (0.0386). Ofcourse, a close above this line is helpful for bulls and when looking at yesterday's volume it seems likley to happen soon.
More important however is that market will set a higher high after the higher low just set. I.e. a move over the latest high (0.0436) will really confirm momentum has shifted to bulls and expect a test of 0.0500/0.0550 after.