Things could turn bull but watch out for that RSI

First of all, many were calling for an H&S. Well, I didn't see it coming....and it actually didn't come.

That said...

Hourly charts shows an ascending triangle formation meaning a continuation of the bull pattern could be underway BUT volumes are pretty low at the moment and Stoch. RSI inverted headed towards an oversold area.

All considered, much depends on breakout direction and volumes, as usual.

I'm honestly pretty much neutral at the moment. I don't see a clear sign to define a trend although the most probable bet is bull.

As usual, not a trading advice, merely my idea for educational purposes.

Yorum:

Here it comes

Yorum:

No way, the breakout was a "false" one. Expect a serious retracement now