Price has a number of well defined historical boundaries. Firstly it is very respectful of the Bollinger Band bottom, top and mid. Se one we have a horizontal support atound 2800 carved out covering the full year 2018. This horizontal could be interpreted as a "neckline" as the overall chart structure resembles a large H&S, this line breaking would be bearish/a short indicator.
Price for now at least has responded to this horizontal support area & moved higher, more recently over the BB mid level so I now feel this will push to the BB top where we should wait and see if price continues to operate within the rectangular pattern or if it tries to break higher.
Price for now at least has responded to this horizontal support area & moved higher, more recently over the BB mid level so I now feel this will push to the BB top where we should wait and see if price continues to operate within the rectangular pattern or if it tries to break higher.