After a vicious sell-off in December we might be witnessing an end of near term downtrend forming.
4h and weekly charts presented above.
On the 4h chart we can see a rounded bottom taking shape which is usually a strong buy signal.
At the same time, the weekly chart witnessed a hammer formed with a quick confirmation the week after in the form of a big bullish engulfing candle.
Let's see how this plays out!
4h and weekly charts presented above.
On the 4h chart we can see a rounded bottom taking shape which is usually a strong buy signal.
At the same time, the weekly chart witnessed a hammer formed with a quick confirmation the week after in the form of a big bullish engulfing candle.
Let's see how this plays out!
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25 days later 40% up