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WWE Wrestling with a Consolidation Range

WWE's technical picture is as neutral as it gets. Since November, price has been trading around 17. At this point it makes no sense to talk about any prevailing bias. It is more important to pick up on any evidence of a trend formation. 

WWE Daily Chart 4/6

(click to enlarge)

For the bullish outlook to develop, the most important event will be a break above 19.00.  The ability to hold above 16.00 would add to the bullish bias within the current consolidation structure.

For the bearish outlook to develop, the most important event is a break below 15.50. A break below 16.00 could be an early signal as it would clear some common support pivots. 

When we look at the RSI, we see an ever-so-slightly bearish bias because it has tagged 30, but not 70 since September.