I wouldn't get too excited... YET. There is a lot of previous suppression in this area, and previous support turned into suppression. The EMA has only been bumped into twice, and it will take another time to overtake it. This will lead to consolidation right now, and maybe even a further low, before a trend reversal can be called.
I may be wrong, but that's what I see happening here. It will need a candlestick to break out and close way above this area to convince me otherwise.
I may be wrong, but that's what I see happening here. It will need a candlestick to break out and close way above this area to convince me otherwise.
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