At the 3-day time frame, the 50-period moving average is currently crossing above the 200-period moving average, with the closing price positioned above this crossover, indicates the possibility of a golden cross formation, a significant event that traders and analysts interpret as a signal of an upward trend in the market.
'The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside and is interpreted by analysts and traders as signaling a definitive upward turn in a market.'
'The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside and is interpreted by analysts and traders as signaling a definitive upward turn in a market.'