Expecting reversal attempt by seller, which will likely fail

1. Observe similar trend as indicator (3). Big engulfing rebound candle by buyer as soon as price dipped significantly. Buy low sell high.

2. Price shifting upwards slowly. This often signifies a strong uptrend as buyer and sellers consolidate their earnings and losses.

3. Similar price movement as indicator (1). Strong buyer sentiment, as they recapture the price from going lower with a clean breakthrough of resistance line.

4. Notice that sellers are not able to influence the price much at resistance line, as there are little to no bottom candle wick.

Verdict: Seller action might kick in (rebound) in this week's candle. I do not expect much impact as there are too many signs of buyer's dominance. However as price is at a sensitive spot (just above resistance line), I am not risking a buy position just too soon.

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