Happy 4th everyone!
Back to H4 today to show a broader view of the ascending triangle formation and recent PA.
Due to the volume increase we could expect a small correction back to long-term trendline (purple) before further recovery, with current resistance as 1150 critical.
There's also a chance that 1200-1250 neckline will hold to continue this consolidation until a later date (7/15-7/20).
That said, both daily and weekly charts look like they could gain some bullish momentum soon which would form more of a double-bottom/cup-and-handle scenario.
Back to H4 today to show a broader view of the ascending triangle formation and recent PA.
Due to the volume increase we could expect a small correction back to long-term trendline (purple) before further recovery, with current resistance as 1150 critical.
There's also a chance that 1200-1250 neckline will hold to continue this consolidation until a later date (7/15-7/20).
That said, both daily and weekly charts look like they could gain some bullish momentum soon which would form more of a double-bottom/cup-and-handle scenario.
