For Following Reasons:
1) RSI is over 50
2) Major Support is at $70
3) Last 1 week red candlestick (might be start of a bullish Pinbar reversal)
4) All three EMA's (20,50,200) are very close together and aligning in correct order
*On shorter term trades, I would be looking at reversal chart patterns, with a BULLISH bias. Good Luck!!!
1) RSI is over 50
2) Major Support is at $70
3) Last 1 week red candlestick (might be start of a bullish Pinbar reversal)
4) All three EMA's (20,50,200) are very close together and aligning in correct order
*On shorter term trades, I would be looking at reversal chart patterns, with a BULLISH bias. Good Luck!!!