In our posting from June 4, 2024, we said the following:
“If $EWW takes a breather by falling to $48 (red line) and then bouncing then it would all be part of a normal bullish reaction. However, falling below the $48 level would mean a potential re-test of the 2020 low.”
So far, the price activity has been consistent wit a market that is still in a bullish trend. Naturally, an increase above the prior high would be needed confirmation of that bullish trend.
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