This analysis is meant to illustrate the accumulation post the August 18th selling climax and automatic rally establishing support and resistance zones.
Wyckoff Re-Accumulation: - Phase A & B sideways move lasted for about 13 days, with one retest of support. - Phase C retest springs followed with sideways movement and a test and kickstart of a trend reversal. - Phase D upwards channel is tightly traded - Phase E missing, awaiting signs of strength: push beyond resistance
Additional Indicator Analysis: - RSI has not reached oversold territories and has some upwards potential of a structure breakout, or accumulation at resistance levels. - MACD has a golden cross within the next couple days, last dead cross appeared 14 days ago,