A beautiful bull pennant has broken us free from the $8,600 resistance. The volume was nice and helped kick us through the $8,700's. These two previous resistance areas will now act as support. The $8,600 level is much stronger. Keep a close eye on this trend channel. I expect it to stay inside the channel until around the $9,200 level (our next major resistance. If it decides to break out of the channel with a glorious green candle, we may blow through the $9,200 level on to around $10,200.
As you can also see, we had a bullish cross on the MACD.
- Your friendly Bull
As you can also see, we had a bullish cross on the MACD.
- Your friendly Bull