Solid start to the month as we push past 2750 in an initial attempt to break and flip this critical resistance zone.
Similar to the pattern below where neckline was adjusted from 2550 to 2600, we could see this neckline range between 2750 to 2800.
Consolidation within this area is holding towards the lower end which could indicate a correction back below. This also depicts a shooting star reversal on H4.
If correction does occur look for supports around short-term EMAs. I plan to use 50EMA with ~2700 (M30), ~2650 (H1), ~2600 (H4). See yesterday's post for general prediction.
On the other hand, a close above ~2850 (H4 or H1&lower per volatility) could trigger a breakout attempt to 3k. This would likely be the result of an overall market buy-in.
Similar to the pattern below where neckline was adjusted from 2550 to 2600, we could see this neckline range between 2750 to 2800.
Consolidation within this area is holding towards the lower end which could indicate a correction back below. This also depicts a shooting star reversal on H4.
If correction does occur look for supports around short-term EMAs. I plan to use 50EMA with ~2700 (M30), ~2650 (H1), ~2600 (H4). See yesterday's post for general prediction.
On the other hand, a close above ~2850 (H4 or H1&lower per volatility) could trigger a breakout attempt to 3k. This would likely be the result of an overall market buy-in.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.