Looks like a descending triangle on the weekly.
Chop chop chop…just to shake out the weak hands
I’m chillin’ on the sidelines, but it looks to me like it just busted out of a higher timeframe bearish trend with a break and retest. So, I’d be bullish. But honestly, I see better opportunities out there right now.
RSI and MACD are creeping up to overbought levels too…
Can the trend continue bullish or a resistance break the bullish trend changes the directions to the down sides. That can take 8 to 24 hours to decide.
Everything’s priced in for now. We’ve got big risk events from the Fed, BOE, and BOJ this week. Traders usually hang back until they get more info on what each central bank’s planning. Expect some choppy action until we know more.