The analysis is based on my Special MACD v2 indicator. I don't like the hidden bearish divergence we're having. On top of that, we have both current-trend and mid-trend are approaching overbought territory. There are two scenarios: 1) the two trends can pull the higher-trend line up with them then we have a pullback and continuing to the top. 2) The two trends will turn down and meet up with the higher trend and price movement will test the low one more time.
Right now I am leaning toward the second scenario because again, we have a hidden bearish and the two trend lines are near or in the overbought arena.
Right now I am leaning toward the second scenario because again, we have a hidden bearish and the two trend lines are near or in the overbought arena.