Or is it in a big rising wedge about to break down.
some bullish signs, broke above the 1 hour 200 ema, bounced hard of the previous mid term resistance line (circled)
Bearish signs, broke above the 2 hours 200 ema but now dropped below it and forming a bearish engulfing candle. 4hrs 200 ema is still far away, apparent rejection from the previous midterm resistance zone around 7800-7700.
some bullish signs, broke above the 1 hour 200 ema, bounced hard of the previous mid term resistance line (circled)
Bearish signs, broke above the 2 hours 200 ema but now dropped below it and forming a bearish engulfing candle. 4hrs 200 ema is still far away, apparent rejection from the previous midterm resistance zone around 7800-7700.
Comment:
broke down from rising wedge.
