SAND retesting 200 period EMA

As you can see, SAND has come down to retest the 200 period EMA again (on 4 hr timeframe). This EMA has acted as a strong support and we have seen an immediate recovery on 6 of the last 7 retests. I'm expecting SAND to move up from here but that doesn't mean it will break out and go make higher highs. On daily and weekly timeframe , SAND seems to be forming a bullish penant and it could continue to move up and down within this pattern without making an impulsive move. Always do your own research and trade wisely.