The price is currently trading sideways within an uptrend. We can see a bullish momentum slowdown around the resistance area. This can mean two things, the bulls are taking a breather before pushing higher, or bullish momentum is drying up fast and we might see a break of the uptrend line. I will look at lower timeframe to get a microscopic view, but will remain neutral for now.
Kommentar:
Price moved back above the speedline support within 3 candlesticks as tested using back testing. If it is a false breakout the price will normally return to above the breakout line in 3 candlesticks.