The bullish structure
$ME continues to catch the eye on the higher timeframes.
Holding above the MA 9 on the weekly chart is a strength marker that can't be overlooked.
This indicates that buyers are in control of the situation on the long-term horizon.
So what's happening on the daily? Here we see a test of endurance.
The price is consolidating, testing the patience of retail traders. However, technically the upside is still intact. Consolidation isn’t weakness, it’s just a breather.
As long as the fundamental and technical factors point towards a continuation of the bullish movement, we remain in observation mode, ready to take action.
#ME #TechnicalAnalysis #BullRun