Market clearly bullish
This is the kind of "slow uptrend" we get when the market is preparing to break out of of a long term downtrend. Price isn't moving very fast, but that's a good thing. The volume tells me that the market is done with its downward consolidation for now.
The market is gaining momentum, as it has broken 2 of the intermediate term downtrend lines, a sign that it's reversing. There may be another small consolidation before breaking out, but I don't anticipate any new lows being made anytime soon. If and when it breaks the long term downtrend, the first target is at least 450, then possibly an even larger bull run or maybe a resumption of the downtrend. Either way, I'm long since $323 and holding.
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The market is gaining momentum, as it has broken 2 of the intermediate term downtrend lines, a sign that it's reversing. There may be another small consolidation before breaking out, but I don't anticipate any new lows being made anytime soon. If and when it breaks the long term downtrend, the first target is at least 450, then possibly an even larger bull run or maybe a resumption of the downtrend. Either way, I'm long since $323 and holding.
If you follow my trades, please donate:
1JzjmYmk2enL3HPCoruSR7KYQRQ4bkoTR4
Thanks!
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