MDCA Bullish (RBB) Rounded Bottom Breakout
MDCA Bullish (RBB) Rounded Bottom Breakout
MDCA has constructed a bullish bottom that has run into the Bullish (RBB) Rounded Bottom Breakout pattern. A few days ago price closed over the 50-SMA and now has rested on the 34-EMA and price support at $5.20. Yesterdays Bullish Engulf may suggest that the bulls have rested and ready to continue the already 2.5-month trend, I see a possible overall (RBB) 45% trade with a 15% swing first.
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SPY • Above A Trending T-Line Bullish
The price action in the SPY reacted positive to the Bullish Engulf painted on Tuesday. However price also pushed higher and deeper into resistance. Let’s not be too worry about resistance until price becomes worried. The current T-Line trend is bullish and until that changes or if we were to see a strong sellers pattern lets allow the T-Line to work. $279.60 has become support and @280.70 has become resistance.
VXX – As long as the price stays below the T-Line we have no worries, above the T-Line we worry.
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