A.) The general trend for prices has been up. Prices started to rise in late February and have been rising since.
Along the way we've seen consolidation at triangles B and C.
D.) Prices formed a rounding top. Prices broke through the trend line signaling a reversal. But
E.) Prices have been rallying from just below the 50 day EMA. But prices are running into resistance at long-term trend line A. Prices have broken about it a few times but have not been able to maintain their momentum.
On the three month chart we see two important developments.
A.) Prices have continually ran into resistance in the 40-41 prices area. Prices ran into upside resistance there yesterday as well.
B.) The EMAs are still very bullish.
