Since 2013 after a large rapid rise we clearly have been in a sideways consolidation. Is this just a pause before we another big rise up? Or is this just part of a much larger sideways consolidation and the next move will be down? I don't know of course. On the positive side the down trendline from what I've labeled BB has been broken to the upside (see weekly log chart). But if this sideways action on the weekly chart is a contracting triangle it would not yet be a break up (weekly dotted line). On the monthly chart the last 3 spikes in volume are on up months. But on the weekly chart the last 3 spikes are on down weeks. There is a bearish divergence on the weekly RSI but those don't always work. Personally with the US interest rates looking like they will rise, and maybe North Korea will really concede its rocket policy isn't in its best interest, and the US dollar strengthening a little, I favor it will go down. What to think? Feedback always appreciated. Process your way. Have a great weekend.
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Looks like may be starting down.
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Todays rise a bull trap or start of a new bull market? For me still undecided. Still think a fall from here may happen.
