The $100,000 question the past week was how the price of steem would react after the recent jump higher.   Though a pull back to digest is expected, would we fall back to the lows was on many people's minds.

### Today's move is very positive for the price action of steem!  (at the time of this writing)

![steemprc325.JPG](https://steemitimages.com/DQmYqnojbE1nQBf5s9V8EnwdiDVWXCBeC98Nyg2V3oLhqz8/steemprc325.JPG)

Look at the daily chart of steem you will see what is a bull flag pattern at the end of the chart.  Granted it is about the bare minimum to qualify as one, but after we moved higher there was then a pullback to prior support (the blue line) and then broke out above the declining consolidation (green line)

Side note: Notice how the blue line was prior support about three times in the past few months.   It is very positive if we continue to hold it.  If there was to be a breakdown of it than going back to the all time lows is a high probability.

Today's green candle breakout is important because it represents positive price action after a consolidation.  It has been quite some time since we had any follow through after an up move.

###  Don't blow the party horns quite yet!

Granted today's action is positive, but we still need to close above .00020 for it to be confirmed as positive price action.  That is the level that had alot of price action in terms or opening and closing of candles on our last move higher.

Once that is confirmed then getting to .00030 and above that price resistance level is key.  If we see that I very well may turn full bullish on the price of steem.  

We shall see what the coming days brings - steem on!

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Regards, 
![SCGLabel.JPG](https://steemitimages.com/DQmT1f9RYQpCfEXKsANM4hczZU85YyUMLiL8K6n7zFKzQf1/SCGLabel.JPG)