Interesting double bottom completed, over a multi week base, indeed, volume surged at last week closing above accumulation area, minimum upside potential can dictate a 1.7 R/R.
Possible bear trap developing if CEST 2PM closes above the 20SMA and reversing back from today's low completing double bottom bullish pattern that confluence with a break from below of the downtrend line from last Thursday high.
From a technical perspective, last week closing confirmed the bullish pennant pattern, suggesting more upward pressure probably to develop over next days ahead of CPI data on Wednesday at 2.3Pm CEST.
Technicals:
-PROs
✅ Head & Shoulder bottom completed (possible Mid-term low formed)
✅Minimum H&S Target reached (Now we wait for the breakout of the 3.06 max for a possible bullish continuation)
✅>+65% in past session (Bull gave a Huge Hit in past session)
✅ D1 Stochastic pointing upward (Possible further bullish momentum to be build up)
-CONs
❌Trading Range (...