So we got our bull break. The chart above is the 1-minute chart. From this, you can see the extreme lack of follow through and volume. we have a total of five 1-minute bull bars that show volume.
Since we've been in consolidation, we expected lower volume. This breakout should have a lot more volume. It might look like a lot, but remember this is being compared to the end of breakout. I wouldn't take this as a bull run bounce. For now we are still being cautious a bit though until there are some clearer signals.
Any potential move upward will be looking to form a lower high and consolidate more on the daily and weekly charts.
We'll keep an eye still, but don't get too excited just yet. This move was triggered by buy stop orders buying a breakout of resistance.
