is on the bullish
side today, the graph shows that the price will consolidate between the blue rectangular box until a breakdown or breakout. In this case, it is more likely that we are going to see a breakout rather than a breakout down (further indicated below by the MACD
). We have two resistance points, one coming diagonally and the other being horizontal, once we break through the diagonal resistance, we should head to the second one in which be a confirmation for a breakout!!
- MACD - Look to begin continuing the crossing upward right now.
- RSI - Still in the lower ranges which leaves space for upward movement.
- Orange - Resistance.
- Pink - Support.
As always trade the lines accordingly.