We saw a retest of the upper level of the consolidation triangle, followed by a swift rejection and heavy sell volume . Bearish sign?
Current upward support line is also EMA 50. Bullish sign?
We seem to be in a bit of gridlock. Signals going both ways, short term looks slightly more bearish than bullish with the heavy sell volume on the breakout retest. That said, the buy volume is definitely on the market.
General thinking may be wait for a slight correction to end then continue onward and upward.
Current upward support line is also EMA 50. Bullish sign?
We seem to be in a bit of gridlock. Signals going both ways, short term looks slightly more bearish than bullish with the heavy sell volume on the breakout retest. That said, the buy volume is definitely on the market.
General thinking may be wait for a slight correction to end then continue onward and upward.
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