Starting from the Monthly trend, which has been bearish since May 2014, you can see we've been making lower lows and lower highs.
In April 2017 we saw a breakout from 6 months worth of consolidation, coming back to retest the zone in June before making its' way higher forming a lower high at the 50EMA. Was this a correction or the start of a new trend? Could it be that the 6 month consolidation was accumulation building?
In the month of December 2018, we have formed a small/medium low-test candle back at the demand zone/possible accumulation. Could this be the first signs of a higher low forming on the monthly?
Let's look closer, moving down to the weekly.
In April 2017 we saw a breakout from 6 months worth of consolidation, coming back to retest the zone in June before making its' way higher forming a lower high at the 50EMA. Was this a correction or the start of a new trend? Could it be that the 6 month consolidation was accumulation building?
In the month of December 2018, we have formed a small/medium low-test candle back at the demand zone/possible accumulation. Could this be the first signs of a higher low forming on the monthly?
Let's look closer, moving down to the weekly.