18) FKLI : bull and bear plays tug-of-warresumes frm 17), the latest high has broken above previous high of 1590 and creates higher-high at 1600-1605. Basically, bull is still IN CONTROL but a possible "head" has been formed. At the end of the week, price falls at 1592.5. Bull still maintains till 1575 closest higher-low is broken.
This could be a mere consolidation phase of a bull or a reversal...
IF the market is aggressive to the downside, THEN it will retest 1575-1585. IF the market breaks lower than the previous higher-low at 1575, THEN market has reversed into bear.
IF the market is slow-ish, THEN current point 1590 - 1595 is the range for possible continuation to higher price. Deeper consolidation will touch range from 1585-1590.
PLS remember, I am not a guru and this is not a signal service provider. THIS is mere for fun.
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Disclaimer : "I am not a guru and I am working hard to make profit same as everyone else. This is not a recommendation of buy or sell, just a mere idea of trading and trading journal. Please consult your financial advisor for any thought of buying or selling. Trade at your own risk."