1. Short term band turn on Red. Means the short term is changing, but the moving averages still pointing up, that can be read as the momentum still up.
2 Basically is consolidating or digesting previous gains.
3. Volume is down for last 3 days and price is not dropping considerably.
4. Holding gains from previous leg up.
5. Getting ready for next leg up 35k to 40k looks imminent, reaching top of the broadening formation and possible expansion.
Time will tell, but Support bands has been giving us a pretty good reading on the moves from the begging of the year.
2 Basically is consolidating or digesting previous gains.
3. Volume is down for last 3 days and price is not dropping considerably.
4. Holding gains from previous leg up.
5. Getting ready for next leg up 35k to 40k looks imminent, reaching top of the broadening formation and possible expansion.
Time will tell, but Support bands has been giving us a pretty good reading on the moves from the begging of the year.
