Hi all,If you thought before was looking bullish, I'm sure you...

Hi all,
If you thought before was looking bullish, I'm sure you haven't missed today's action: major set up in play here. It certainly looks like the big players are starting to move their pawns into position early!

The chart 'bears' all when it comes to understanding the psychology of the market (no pun intended). Over the last few trading days we have seen a bullish penetration and return to trading above the medium term ascending trend line (green line). Increasing volume coupled with a break of the first major resistance point today (upper red line) along with large volume trading (equating to ca. 125 million), suggests the bullish nature is accelerating. A solid close (no wick) on today's candle further supports this notion.

More importantly, look back over the past 24 months and you might observe a classic inverted Head and Shoulders pattern clearly beginning to form - another very bullish sign. Inspect the neckline (in yellow) which also serves as the final resistance point before any potential upward move. Do the calcs, technically 3c is looking like a solid target, so plenty of time still for new buyers to slip in.

These are just my humble opinions so comments are more than welcome. Exciting times ahead!
cheers
Sagitar