Bulls just broke from an hourly equilibrium that has been forming for the last handful of hours,
and now are looking up to the high that we have seen on this bounce.
The bulls are holding 4 hour EMA 12 and 26 as support, but these EMAs are also resistance on the daily.
Currently back to all cash and patiently waiting for a clear setup.
I am not losing sight that I would anticipate the weekly equilibrium needing a bit more consolidation before the higher low is found.
Some Consensus bullish news could change this, but I am always looking at what is the most likely scenario.
Personally sitting patient for more clarity.
and now are looking up to the high that we have seen on this bounce.
The bulls are holding 4 hour EMA 12 and 26 as support, but these EMAs are also resistance on the daily.
Currently back to all cash and patiently waiting for a clear setup.
I am not losing sight that I would anticipate the weekly equilibrium needing a bit more consolidation before the higher low is found.
Some Consensus bullish news could change this, but I am always looking at what is the most likely scenario.
Personally sitting patient for more clarity.
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