***UPDATE*** it check out the chart I posted in the comments
we've now gone all the way to touch the 500EMA - something that hasn't happened in exactly two years!
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Looking back to the April 2013 rally, we saw the first deep pullback reaching to touch the 100 EMA line, then over months as the bubble corrected more slowly, a final touch of the 300 EMA line signaling the end of the bubble period and a new trend. November saw a similar touch of the 100 EMA at the deepest pullback -- even mirroring the behavior of the first candle fully piercing the line, and the second daily candle touching it precisely.
These parallels would suggest a corrective touch of the 300 EMA is expected, as if the price wants to "touch base" before moving on to a new consolidation period or even rally.
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Looking back to the April 2013 rally, we saw the first deep pullback reaching to touch the 100 EMA line, then over months as the bubble corrected more slowly, a final touch of the 300 EMA line signaling the end of the bubble period and a new trend. November saw a similar touch of the 100 EMA at the deepest pullback -- even mirroring the behavior of the first candle fully piercing the line, and the second daily candle touching it precisely.
These parallels would suggest a corrective touch of the 300 EMA is expected, as if the price wants to "touch base" before moving on to a new consolidation period or even rally.