/biz/ - Business & Finance

>>14004867

Moving over to the daily chart, there are some other reasons for the bounce as well as the strength of the buying today. On June 3 the daily candle fell below the lower bollinger band. No matter what the trend, prices tend to bounce back in to the bollinger band range quickly. Again, by no means an indication of reversal but a valid data point as part of a short term trading strategy. Secondly, today's bull buying was sufficient to break the daily candle above the 200 day simple moving average (yellow line). A break above that line is a buy indicator for a lot of people, which is why today's moved turned out to be as strong as it was. If buying had weakened when the candle approached that line, you would have seen a sell off back down to near low of day.

>>14004966

Maybe.