It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe.
Price rejected previous support structure as new resistance with 3 rejection candlesticks one being a “shooting star” bearish reversal candle….
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
As for the rationale, technical traders seem to be citing the appearance of flag and trendline technical patterns.
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
This imputes a buy/sell ratio of 1.8, which is bullish.
This imputes a buy/sell ratio of 1, which is neutral.
Technical analysis, on the other hand, gained popularity for those seeking short-term and medium-term gains, with operations based on methods and concepts, such as candlestick and fibonacci numbers and chat patterns….
This imputes a buy/sell ratio of 1.13, which is neutral.