AN ATTEMPT TO BREAK $1375 SCENARIO (PART #1)
I still use this Chart as a reference that Bull attempt to break the level of $1375 and in my view, $1280 is potentially become 2019 low and now is the time the Bull will retest $1325/46 to make the first confirmation.
In my technical view, the bull has 2 scenarios for breaking through the level of $1375.
1. Scenario #1 For The Breakout $1375 In 2020
Refers to this Chart Approach, if after May 2019, the level of $1280/75 can be conquered by the Bear, at least the price until July 2019 must be able to move above the green line #5 ($1236), if the price continue falls below $1236, then the Green Line #4 ($1200) must be able to withstand further decline. If this happens, the breakout of $1375 is likely to occur in 2020.
2. Scenario #2 For The Breakout $1375 in 2019
If until May 2019 the price can hold above $1280/75 (the worst case above $1260), then most likely July or August 2019 the price will move higher (the pattern is almost close to May 2016). If this happens, the breakout of $1375 is likely to occur in 2019.
Based on this Chart Approach, I need to see the price in April 2019 is Higher than $1325 to confirm that $1280 is 2019 Low.
Who Knows... ?
#From The Desk Of NewBie
In my technical view, the bull has 2 scenarios for breaking through the level of $1375.
1. Scenario #1 For The Breakout $1375 In 2020
Refers to this Chart Approach, if after May 2019, the level of $1280/75 can be conquered by the Bear, at least the price until July 2019 must be able to move above the green line #5 ($1236), if the price continue falls below $1236, then the Green Line #4 ($1200) must be able to withstand further decline. If this happens, the breakout of $1375 is likely to occur in 2020.
2. Scenario #2 For The Breakout $1375 in 2019
If until May 2019 the price can hold above $1280/75 (the worst case above $1260), then most likely July or August 2019 the price will move higher (the pattern is almost close to May 2016). If this happens, the breakout of $1375 is likely to occur in 2019.
Based on this Chart Approach, I need to see the price in April 2019 is Higher than $1325 to confirm that $1280 is 2019 Low.
Who Knows... ?
#From The Desk Of NewBie
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