Price is currently continuing to test $3658 minor support for what is now the seventh consecutive session and managed to close back above it in today's session. Volume is High (low) and broke a two day streak of seller dominance by favoring buyers in today's session; Price is currently trading in the fourth largest supply/demand zone. Parabolic SAR flips bullish at $3728, this is bullish at the moment. RSI is currently testing 38.06 resistance after bouncing off the uptrend line from August 2015 at ~33 (this is bullish), if it breaks above it will likely test the uptrend line from January 2022 at ~41 as resistance. Stochastic remains bullish and is currently trending up at 32 but is still technically testing 18.22 resistance; the next resistance is at 48. MACD remains bearish and is currently trending up at -108 after forming a trough at -110, although it's still technically testing the uptrend line from March 2020 at ~-83 it would have to break above ~-91 to crossover bullish. ADX is currently beginning to form a soft peak at 31 as Price is seeing buying pressure, this is mildly bullish at the moment as it signifies a potential trend change.
If Price is able to close above $3658 minor support for a second consecutive session then it will likely test the lower trendline of the descending channel from August 2021 at ~$3800 as resistance. However, if Price breaks back down below $3658 minor support, it will likely retest $3517 minor support for the first time since November 2020. Mental Stop Loss: (two consecutive closes below) $3658.
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