The chop index is going over 50, meaning we are entering a range bound market.
Daily ATR is under 1000 MA DAILY ATR therefore volume is going down entering a new accumulation phase.
The price Broke the Keltner Channel reaching in 26 October for the Sellers Stop Losses.
The 50 EMA is serving as the center if you want to play a mean reversion strategy.
The 250 Ema is serving as strong upward dynamic resistance where we can expect the price to rebound many times.
The trendlines would probably push the price in a triangle before the big move upward after the accumulation.
Daily ATR is under 1000 MA DAILY ATR therefore volume is going down entering a new accumulation phase.
The price Broke the Keltner Channel reaching in 26 October for the Sellers Stop Losses.
The 50 EMA is serving as the center if you want to play a mean reversion strategy.
The 250 Ema is serving as strong upward dynamic resistance where we can expect the price to rebound many times.
The trendlines would probably push the price in a triangle before the big move upward after the accumulation.
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