I would be inclined disagree with that one. My reasoning is that...

I would be inclined disagree with that one. My reasoning is that the share price is essentially a game of tug of war. In order for the bulls to take over they need to exert more than equal-power to the bears. It would appear that the bulls have stepped up today and out performed the bears, so while the movements to the upside have been limited the simple act of turning it around and potentially changing the short term sentiment back to bullish is a pretty good accomplishment for today. With bullish sentiment often legitimate sellers (as in those without an agenda) will move their orders higher as the see the sentiment and price going higher. Medium and long term is still bullish in my view.

Daily now has confirmed bullish divergence. If we continue to print bigger red bars in the next sessions this will be exerting more and more pressure to the upside (shown bottom right) . I expected our daily w5 is going to be repulsed by the rather strong e21


Hourly is looking good but we need to get a close above the e21-e55 cross. We are also at risk of a fresh bearish divergence here, but that is much weaker than a daily bullish divergence. Both can play out but the larger TF will always win. No chart

30min is giving us the the 2nd strongest bull continuation signal I have with the cyan e55 being rejected by the blue e100 and the w5 heading back to cross over. Our current support is seen here in the form of the s200 (dotted red)

15min is looking fantastic. Hopefully we will have a confirmation of this signal tomorrow. If it does this will be a tough one for the bears to quickly turn around. As a side point, sometimes looking at the price, for example in the 15min here, working out sentiment can be a little confusing, but when you look at the w5 instead it clearly shows the double bottom, higher lows and higher highs.

If tomorrow does what it did today they bulls should be pretty happy and finally pile on again. Let's watch and see, just need a few small hurdle out of the way before we get too excited.