Looking at the daily chart a clear head and shoulders is forming. We are breaking the downtrend that completed the head, now consolidating to start forming the right shoulder.
The adx has a downtrend that has not broken yet but I think it will then we will see momentum.
The TMO is squeezing to the upside
Over all I think this could be a good possibility we can...
While maintaining a solid uptrend we are seeing a inverse H&S pattern. If this plays out we can see the right shoulder completely by February. Adx signal line is breaking upwards as well on the daily
We are at the bottom on the 4 hour up trend and In a chop zone just above the 20 EMA. Looks good on the adx for more upside momentum as long as we stay in this uptrend.
We are currently testing the upper downTrend on the daily chart while forming an uptrend on the 4 hour. We are above all moving averages on the 4 hour time frame. Adx looks good for momentum to the upside as long as we break this daily downtrend
