Price bounced off resistance, and seems to have successfully formed a rising wedge pattern. Short position confirmation if you ask me (a rising wedge in an uptrend is considered a reversal pattern). We saw a fake out to the downside testing the 12500 support area. Price currently broke out the rising wedge to the downside to retest previous support and possibly tank to the 12000 region, testing the ascending channel support line.
Analysis is only subjective.
Analysis is only subjective.