“All major resistances are now broken. In theory, that opens us a way towards the new mid-term highs. That being said, we are confirming a buy signal here and look for a further upswing in the forthcoming days. “
From 472 USD, we went towards the 560 USD (red), where sellers initiated a bearish correction. So far, it looks like a typical take profit action and the traders have nothing to worry about. The current movement is a typical price action, which tests the recent resistance (450 USD, blue) as a closest support. 450 USD looks strong and as long as we stay above this level, the sentiment is positive.