According to study from October 3, 2022, the following was anticipated:
- Possibility of an upward bias reversal above 17100
- Persistence of a downward bias below 16850
It closed over 17100 on October 4th, setting up a potential uptrend.
Plan to wait for confirmation above today's high of 17300 or, in the event of rejection, near the gap fill area of 16900-17100.
Possibility of returning to the downward bias could be thought of below 16900.
- Possibility of an upward bias reversal above 17100
- Persistence of a downward bias below 16850
It closed over 17100 on October 4th, setting up a potential uptrend.
Plan to wait for confirmation above today's high of 17300 or, in the event of rejection, near the gap fill area of 16900-17100.
Possibility of returning to the downward bias could be thought of below 16900.
Note
Closed above 17300 but intraday had a bearish bias as opened near high and closed Near Day's Low and therefore even though we have two closes above 17300, it might be better to wait and watch the price action to see if it goes above 17400 or else gets supported at 17100.
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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.
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.