tradingeveryday

tradingeveryday

With price action providing bullish weight-of-evidence in the month of October 2019, the recent multiple day consolidation may see a upper boundary breakout as momentum attempts to move price action higher towards the all-time highs.

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Price Action initially moved below the Opening Bell before finding minor support at the intraday lows and reversing. Momentum changed direction and price action crossed above the Opening Bell and continued the pre-market bullish trend all day as it stayed above the 20 MA and the 200MA.

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Market Cycle Analysis for Daily Chart to continues to show promising Bullish Momentum ahead.