In my previous analysis i showed a potential double bottom
on the daily chart
which has been playing out so far. The ideal entry, when the triangle would break on the low side, didn't happen. It simply broke upwards and continued the rally since. However, this rally has been very slow so far. It's not always bad, but at this point it needs to accelerate a big more. Like it has been doing the past week or so. Bulls need to show they want to attack the neckline of that double bottom
(red zone on the left). So ideally we see a good move up this week, into the resistance zone
and make a good bull flag
there for a few days. If we see that happen, it will become more likely to see a continuation up for the coming few months.