This is the 2nd straight hour ma has seen its price head down.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 9.16% from the day prior, and up 46.77% from the same day the week before.
Price action traders in particular will want to note that the 30 and 90 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing.
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
As for how volume fared, yesterday’s volume was up 52.43% from the previous day (saturday), and up 39.59% from sunday of the week before.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
This move happened on lower volume, as yesterday’s volume was down 15.32% from the day before — and down 49.09% from the same day the week before.
Now all the bears all over the world can run into walls and die, you defeated idiots.
As for how volume fared, yesterday’s volume was up 2.55% from the previous day (monday), and up 14.05% from tuesday of the week before.