We've reached the top of a channel that has been forming since October 2019 and we're decreasing in volume indicating a potential reversal of the impulse since Early November.
This could mean a correction, short term to the middle of the channel before bouncing back off to the top or continuing to the bottom.
I'd give this a short leash to see how this level reacts as we aren't sitting on any significant resistance or supply level.
This could mean a correction, short term to the middle of the channel before bouncing back off to the top or continuing to the bottom.
I'd give this a short leash to see how this level reacts as we aren't sitting on any significant resistance or supply level.