Overlapping pennants on their way
Although the first pennant broke to the downside there is a second one building directly after the first one. Seems like bulls and bears having a tough time sorting things out. Could be that the first break-down filled many "to late to the party"-bears, which, if prices continue to push up will get rekdt.
A relief rally to the next S/R level (green rectangle) would be much appreciated, if we get rejected there new lows are in play, if we push up and stay there the bottom should be in.
Cheers!
A relief rally to the next S/R level (green rectangle) would be much appreciated, if we get rejected there new lows are in play, if we push up and stay there the bottom should be in.
Cheers!
Penafian
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