Next Touch 6K, but probably not the bottom.......
OK, so extending upon my previous MACD post (see related idea below regarding how MACD is oscillating to a state of calm to define the bottom), it looks like the next touch point should be 6K, where we are likely to get a small bounce up. Whilst that could be the bottom, I actually think it may come down further than this after a short reprise before reaching our overall target.
Either way, the MACD is telling us we are coming to the end of this phase. I don't expect a massive eruption North at the end of it, but rather a period of gradual increment for a while, until the next twang happens.
I'm on the sidelines for the moment but will pick up positions at 6K and then add on the next low if it happens.
Happy trading and good luck.
Either way, the MACD is telling us we are coming to the end of this phase. I don't expect a massive eruption North at the end of it, but rather a period of gradual increment for a while, until the next twang happens.
I'm on the sidelines for the moment but will pick up positions at 6K and then add on the next low if it happens.
Happy trading and good luck.
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