SBDs consolidating for the next move up?

SBDs had a moon shot the other day but have already give a large portion of that move back.

See the chart:

The chart looks like it might be in a consolidation pattern though before a continuation of the previous up move is continued.

Keep in mind that SBD is pegged to the dollar so there is often pressure on it any time it is trading for more than a dollar.

For that reason this move may indeed fail and I am not advocating putting new money to work at this point.

However, if you are already holding some SBD it might be worth it to continue holding to see if you get a bit of a pop over the coming days to sell into.

Happy trading.