Wednesday, August 16, 5:06 pm EST. What happened? Dovish Fed speak? That would be my best guess. It doesn’t matter. What do the charts say?
It most instances, price advanced today, at such a rate as to nearly rebound and recover most of what had been lost the previous 3 trading days. Further, volume today was greater than any of those 3 days… and it even, at least, attained unto an average amount, too… 3% above average.
A look at an average of all shows that price is approaching that same overhead resistance line that trends downward from each top since Nov. 9. It turned price back only 4 and 5 days ago. Will it be any different this time. that’s what we’ll be watching for now. If it can breakthrough, and with some force of volume, I would think that it could be bought. Let’s see what comes our way Thursday!