Looking at the weekly chart first. Notice the lower volume during this rally, the previous parabolic rally was met with heavy selling. Where are the sellers now? To be fair, I am seeing a lot of lower volume moves like this throughout the market.
On the daily chart we are definitely over-extended. Though the lower indicators are indicating continuation. OBV is my go-to for reading strength.
I circled a bull flag on the chart... if this move is going to continue for bulls, this is what we want to see. Another 5 days of consolidation followed by a push up.
For me this is out of play until it either consolidates or pulls back to the white or magenta lines.
Keep in mind we've moved $10 in a month.
On the daily chart we are definitely over-extended. Though the lower indicators are indicating continuation. OBV is my go-to for reading strength.
I circled a bull flag on the chart... if this move is going to continue for bulls, this is what we want to see. Another 5 days of consolidation followed by a push up.
For me this is out of play until it either consolidates or pulls back to the white or magenta lines.
Keep in mind we've moved $10 in a month.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.