Hi Pete, No clear bullish signals as of yet. However simple...

Hi Pete,

No clear bullish signals as of yet.
However simple indicators such as RSI, MACD and Stochastics are turning up which is a good sign. It has been hugging the top of the channel which suggest the absence of selling pressure. Looking at the declining volume and tighting of Moving Averages (MA) in a trend, I'm thinking some volume will be appearing in soon and the spread and close of that candle can indicate which way it wants to go.

Sitting above the 200 EMA & SMA atm with the bottom Keltner also supporting the price. This means if it breaks lower could risk drift towards that bottom trend line in the channel as it might trigger a little panic or loss of hope.

Ideally to breakup from the downtrend, would prefer a 3-4m+ volume day then soon after see that 7day EMA (yellow) to cross above the other 3 that i have on there (14,21,30) for a new uptrend but it is abit early to speculate on that at this stage. Breaching that upper yellow trendline will allow it to move towards the top of the Keltner Channel (first arrow pointing to pink line )


In summary, not a bad chart just waiting on the next signal which then makes it alot easier to play with



Hope it helps