Price has broken consolidation range with great volume! this means we may be seeing a new uptrend. Price is now testing a support, which is a 23.6% fib. retracement, price may go a little down by the 38.6% (which is another S&R area too) and continue its way up.
Additional Confirmations
Market has the reason always so in case price goes down, it may consolidate AGAIN -.- and we may go shorts when entering and respecting the former consolidation resistance
Additional Confirmations
- The consolidation break was made with a HUGE Volume, this means market is DONE about that consolidation and the bulls are trying to stablish a new uptrend.
- MACD Signal Line has crossed the "0 line" meaning a new possible uptrend, meanwhile MACD Histogram may increase, meaning the end of a market retracement.
Market has the reason always so in case price goes down, it may consolidate AGAIN -.- and we may go shorts when entering and respecting the former consolidation resistance