The bounce off support around 55c to 60c has been enthusiastic but modest. I see some patterns forming like some kind of mutant double head and shoulders. I deem this an UNO reverse card.
Could we retrace back to the neckline and complete the pattern officially? A move such as this would almost certainly signal a sustained uptrend especially at such a pivotal position on the larger channel. The Daily MACD is about to signal a bullish cross. The previous cross occurred just after the last pump on Feb 20th & Feb 21st, when we passed below the signal line. If this occurs, to me it is a clear indication of a trend reversal as is indicated the start of the downtrend. I'd look for a completion of the H&S pattern within the next day or two. If we do, look for heavy volume and use previous lows as targets. This might be the last signal we get.
A̶d̶v̶i̶c̶e̶
Could we retrace back to the neckline and complete the pattern officially? A move such as this would almost certainly signal a sustained uptrend especially at such a pivotal position on the larger channel. The Daily MACD is about to signal a bullish cross. The previous cross occurred just after the last pump on Feb 20th & Feb 21st, when we passed below the signal line. If this occurs, to me it is a clear indication of a trend reversal as is indicated the start of the downtrend. I'd look for a completion of the H&S pattern within the next day or two. If we do, look for heavy volume and use previous lows as targets. This might be the last signal we get.
A̶d̶v̶i̶c̶e̶