 A few encouraging signs are appearing on the chart as I see it. Firstly, the downtrend from the April high has been broken to the upside albeit not yet in a conclusive manner. To confirm the downtrend is over in the short term at least, a more significant move away from the downtrend is required. However, this break has also occurred with bullish RSI divergence and also, a failed breakdown below the zone of support created last year and more recently, last month by the low of the pennant. A move above last months pennant and resistance is not encountered until ~1.65.
| author | technicaltrader |
|---|---|
| permlink | steem-some-encouraging-signs |
| category | steem |
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| created | 2018-09-25 11:55:12 |
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| root_title | "STEEM, Some Encouraging Signs" |
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