Fairly large rising wedge seen here on the 6hr. I've been watching this for about one week, it's made for a couple good trading opportunities. This wedge is large so it could go on for another week or end as early as tomorrow based on the current path projection.
Indicators
Rising wedge
Volume decrease last few days
OBV losing steam
6hr Macd flipped
Target
290
Time Frame
1-7 days
Thoughts
We won't have confirmation until it breaks one way or the other. If I had to make an educated guess based on the current chart and the fact that a rising wedge is a bearish indicator I'm going to say it's breaking down.
Indicators
Rising wedge
Volume decrease last few days
OBV losing steam
6hr Macd flipped
Target
290
Time Frame
1-7 days
Thoughts
We won't have confirmation until it breaks one way or the other. If I had to make an educated guess based on the current chart and the fact that a rising wedge is a bearish indicator I'm going to say it's breaking down.
Comment:
Wedge validated broke through at 330.
Comment:
Broke up through resistance. It's time to visit my moon chart.
Trade closed manually