Are the odds shifting to a one more dip? The previous marked decending triangle has been broken in some sideways movement. We did not see any big volume coming in, but the volume we got shows even many bulls are buying the dip.
In the short term we are forming a triangle of indecision (yellow marked). I suspect some move in the very short term when asian markets come into play. Usually we get a spike around 10pm.
In the 4 hour chart we like to see a spike up above the cloud and confirming the cloud as support. If we get a spike down we have to see good bull volume kicking in buying the dip. If we dont get any bulls showing up, we might look into a different scenario over all.
What makes me feel a bit more positive is the long and shorts comparison. We didn't see much changing in the last 24 hours. The longs are still in favor.
Please let me know if the information i provide is helpful in the comments below!
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