Redbox accumulation zone by the looks of things..
Just broken out and retested longish term downtrend
Theres no longer a downtrending resistance so we can start to potentially build a solid floor support for a future uptrend and higher low activities..
Looks about as oversold from speculative high as is possible..
Maybe one more sweep to fill some bids..
Obviously war tensions is why most of the market is so low..
If things escalate then moving to a lower range is also possible.
Just broken out and retested longish term downtrend
Theres no longer a downtrending resistance so we can start to potentially build a solid floor support for a future uptrend and higher low activities..
Looks about as oversold from speculative high as is possible..
Maybe one more sweep to fill some bids..
Obviously war tensions is why most of the market is so low..
If things escalate then moving to a lower range is also possible.
