7.24.17 | BANK | Working to breakout and test resistance

BANK - Although for some reason today's candle is not yet on the chart you will see that price is bullish today and is struggling to break out of a falling wedge in an attempt to test the range of of a 4 month sideways channel. A close above $3751.34 will confirm the start of the rally back to $3835.21 | The 20 and 50 exponential moving averages are in favor of a bullish trend to the upside although the 20 EMA is moving through price right now which is an indication of consolidation. As soon as price clears the 20 EMA we will have strong sentiment of a test into resistance and this may be the beginning of the breakout of the 4 month sideways channel.

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Trade Idea VOIDED on 7.26.17