The rebound in the last round exceeded the mentioned resistance level.
And it also broke through a previous minor high.
This indicates a short-term downtrend has been broken.
Now, it is pulling back to test the low of the consolidation range.
➕ one long call
The big bearish candlestick from four days ago
As of today, it has been repairing for four days but hasn't yet recovered to the price before the drop.
This four-day oversold rebound lacked buying volume; all gains were modest.
Today it just hit the upper resistance zone.
Do you think this is the start of a new downtrend or will it continue to repair upwards?
I think it's likely still a new downturn... let's wait and see.
$Alphabet(GOOGL.US)
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