The MACD is now Strongly Bullish above the Signal Line and now also above Zero:
We are overextended and above the 80% RSI 12.7c, but these indicators can catch up to reality when the move is justified. Nothing goes up in a straight line though, just as the 6m DownTrend we just busted out of wasn’t a straight line either. We gapped up this morning and it won’t be the worst thing in the world if a common gap like that gets filled ASAP as part of a backtest, strengthening the overall move higher…
We’ve moved above our 50 DMA and getting that to turn upwards is just the start of it - when you see it cross the 200 DMA, happy days… It’s too early to say we’re in an uptrend yet, the grey arrow is indicative only. But we can definitely get stuck into the teeny Vodka Jelly Shots tonight. What flavour do you like?
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