Well it happens, but very rare in the span of a few weeks to months do our ST give out a down trending signal only to be reversed the very next day. A 17 pt. move can do that unfortunately. The PA has also turned up, meaning that potential for acceleration is to the upside as well. No doubt the Bulls are not giving up. As I see it though, every time an ST gives out a false signal it is usually followed by its last gasp push either for a lower low or a higher high.
Prices have broke above the green dotted channel line and is being halted by the red trend line that was formerly the top resistance line of the wedge channel. There is a few EW count that is available to us for speculation of the progressing pattern (See 15min. chart).
SEN: Bullish
ST: UP
PA: UP
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