Looks like we may be retracing from the previous C wave. Sell volume decreasing on the last two candles with some bull volume coming in on the current candle. RSI is in oversold territory on the weekly, daily, and 8 hour. Current candle is a flat bottom so far. MacD may also be losing momentum. The current candle has formed bullish right after an indecision candle at a support area. Strong wickage at this level looking back towards May 12th. Looking to see if we can retrace 1 to 80% of previous high a month or more out. Let's see what happens! Might be a good idea to wait until next week. The market been green the last two days.
What do you think? Let's have a great day!
What do you think? Let's have a great day!