$MUB broke below the 7-day low: current price 957.08, previous low 963.49.
After the breakdown, watch two things:
· Will the previous low of 963.49 turn from support into resistance (if the rebound fails to reclaim it)?
· Was there a surge in volume during the breakdown? A break on low volume could just be a bear trap.
Which direction do you favor?
#MUB
After the breakdown, watch two things:
· Will the previous low of 963.49 turn from support into resistance (if the rebound fails to reclaim it)?
· Was there a surge in volume during the breakdown? A break on low volume could just be a bear trap.
Which direction do you favor?
#MUB