Waiting for the Bulls or the Bears to take the lead
Price is chilling an HL point on H4 and respecting an HL area on the daily.
could this need a strong bullish in the works? possible, but keep in mind the LH areas on the daily weren't broken. For the uptrend to be valid price has to break a previous high.
There is also some confluence around 1893 (61.8% Fibonacci) wicks to the upsides which could be some buyer's exhaustion
if the price doesn't make a HH on h4 or the daily sellers can come in at a key resistance level
We just have to wait, Sells will be around Qp 1875 (if support is broken, and it becomes new resistance), or Buys will be around Qp 1875 (if support is respected)
downside moves Target Qp 1850
upside moves Target Qp 1925
lookout for news events and updates on the coronavirus and stimulus
could this need a strong bullish in the works? possible, but keep in mind the LH areas on the daily weren't broken. For the uptrend to be valid price has to break a previous high.
There is also some confluence around 1893 (61.8% Fibonacci) wicks to the upsides which could be some buyer's exhaustion
if the price doesn't make a HH on h4 or the daily sellers can come in at a key resistance level
We just have to wait, Sells will be around Qp 1875 (if support is broken, and it becomes new resistance), or Buys will be around Qp 1875 (if support is respected)
downside moves Target Qp 1850
upside moves Target Qp 1925
lookout for news events and updates on the coronavirus and stimulus
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.