Moving Averages (50 / 100 / 200)
ARNs rallying movements over the day has allowed price to surge back above our moving averages, all three of which are now acting as strong support.
Bollinger Bands
At 3/10/18 5:45:00 price action rallied from 18,560 all the way up to 19,450 which broke the top bollinger band before price consolidation took place. Bottom and middle bands are still acting as support but the bollinger channel is still wide and indicates volatility.
Parabolic SAR
Trailing under ARN within the bearish uptrending channel the past rally created. SAR is at 18,767 (ARN / Planes / 767 / :P). The SAR is confirming the price is consolidating but still up trending.
StochasticRSI
At the top of our rally the Stoch RSI reached 86~ and during our consolidation we have dropped back down to 20~ which is another bullish signal.
Volume
Volume had some bullish bars but we can see steam was lost recently. Our current bar is green and buying pressure needs to increase to fuel the potential rally.
Fibonacci Retracement
Today our price action was rocketed us from below the .382 fib level, through the .5, .618, and .786 before taking some time to cool off. We still can see that .786 is acting as good support.
Chart Pattern
Following the huge downtrend we came out of the price is forming a great double bottom. We can see our 2nd valley was deeper than the 1st and a break of the neckline would indicate a surge of price without much resistance besides psychological.
Conclusion
Price could fall back to 18.3-18.5. However, at this price we see tremendous support from almost all of our indicators: Moving Averages, Mid and Bottom Bollinger bands, low StochRSI.
ARNs rallying movements over the day has allowed price to surge back above our moving averages, all three of which are now acting as strong support.
Bollinger Bands
At 3/10/18 5:45:00 price action rallied from 18,560 all the way up to 19,450 which broke the top bollinger band before price consolidation took place. Bottom and middle bands are still acting as support but the bollinger channel is still wide and indicates volatility.
Parabolic SAR
Trailing under ARN within the bearish uptrending channel the past rally created. SAR is at 18,767 (ARN / Planes / 767 / :P). The SAR is confirming the price is consolidating but still up trending.
StochasticRSI
At the top of our rally the Stoch RSI reached 86~ and during our consolidation we have dropped back down to 20~ which is another bullish signal.
Volume
Volume had some bullish bars but we can see steam was lost recently. Our current bar is green and buying pressure needs to increase to fuel the potential rally.
Fibonacci Retracement
Today our price action was rocketed us from below the .382 fib level, through the .5, .618, and .786 before taking some time to cool off. We still can see that .786 is acting as good support.
Chart Pattern
Following the huge downtrend we came out of the price is forming a great double bottom. We can see our 2nd valley was deeper than the 1st and a break of the neckline would indicate a surge of price without much resistance besides psychological.
Conclusion
Price could fall back to 18.3-18.5. However, at this price we see tremendous support from almost all of our indicators: Moving Averages, Mid and Bottom Bollinger bands, low StochRSI.
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