Channel Formation -> Short, Then Long

8 apr 2019

We bounced from the top channel border four times before. There was a small false breakout from the bottom line, which later lead to all-green rally period all the way to the upper green line. This was supported by beneficial weather period. However, the strength of the rally seems to fade. I am in short expecting us to go down for some time, but I will definitely close above the bottom green line. There is also a blue 150 daily moving average. I think it might act as support. It did work before as a resistance.