Over the last two weeks, SAND has seen some consolidation after a massive run up in the four weeks prior to that.
During this consolidation period, a bull-flag pattern has appeared on the chart. With SAND bouncing off the lower support earlier today, I think that the pattern has been confirmed and that we're going to follow this in the near future.
For now, we will see some more bullish price action towards the resistance of the pattern. A bearish bounce is to be expected from there since the pattern is not finished yet.
Later in the weekend we might scout for a break out, ideally a bullish one with a big green candle. Target placed at the most recent high.
Happy trading!
During this consolidation period, a bull-flag pattern has appeared on the chart. With SAND bouncing off the lower support earlier today, I think that the pattern has been confirmed and that we're going to follow this in the near future.
For now, we will see some more bullish price action towards the resistance of the pattern. A bearish bounce is to be expected from there since the pattern is not finished yet.
Later in the weekend we might scout for a break out, ideally a bullish one with a big green candle. Target placed at the most recent high.
Happy trading!
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