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S50h21

S50HDay: The price has tested a larger DB this week. Yesterday closed with a stong reversal candle . I can see strength building up to break out of the 3 months sideways movement and make new higher highs. PS. week is looking stronger and a close over the 'last' strong resistance at 978 will most probably take the price up north. Although, going into the continuous contract, there is a resistance zone from 988 to 1000, that might very well give up a fight but a test of the top of the channel would nice at around 1040. 2H: About to break out of a DB, from a long term TPO support, ema150 week might give the price a retest of the DB and a nice point to go Long, as I don't like breakouts from DBs.
TFEX:S50H2021Long
by SamuiTrader
1
S50 is getting unsure what to do nextEven though S50 broke to the south through a long term support, with weekly ema150, the force of nature took the price back and held it above, waiting for next week to start. If looking back to middle of January there are some great similarity's, with then and now. So by looking at the history of the graph, one could expect that the bears will take over the lead for a while. Because of this, I'd not go Long at this point, although am open to go Short intraday, after a pullback . I'd love it if an bullish reversal pattern would come around 940-945, to step back being more genuine bullish.
TFEX:S50H2021
by SamuiTrader