Bullish outlook

30 нояб. 2020 г.

Horizontal volume levels seems to be broken trough by bulls. The moving average of 200 has been retested once, though might be retested once more. When "retouching" the MA 200 (in case of), there will be a confluence of large volumes and the MA, giving a strong trampoline effect. If this support will break trough, then we should look onto downward move with the retest of the same level. As said overall the scenario is rather bullish - a local bullish triangle can be formed just above the MA adding odds to upward move.