BAS.GR D1 Our expectations:
The short trend is questionable once the movement emerges from the price channel. Gap for long and successful test of at a key level provides a good opportunity for entering in position with a close stop.
Price action: Gap for long.
Breakthrough 38.2 Fibonacci.
Price above 50SMA and 200SMA. MAs are stacking in a bullish formation
DeMarker turns below 0.7 - here we have a mismatch between Price action and the indicator.
Alternative Scenario: If the price return again in the bearish Trend Channel, the short trend most likely will continue.
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