The market has been accepting value above 109.70 area, the top of the big balance area, since the 5 February. Will wait to see how 109.70 area plays out and trade from there.
Happy new week. Thank God its Monday. Lol.
The market has created a clear head and shoulder pattern and it closed below the 50ema on the daily. I will be bearish this week, ceteris paribus, until 110.50 area.
Trading at a key support area, be on a lookout for a break down or a bounce. Good luck with your trading on this new month, may it bring you positive results.
Since 11 Oct '19 we've been in a balance area. We saw a breakout above the 109.70 area but it did no build any value above the area. Are we back in the range?
The market has been in a balance area since the beginning of the year. Right now we are trading at the edge of a range. A push above the 8700 area can takes us to 8780, besides that the range can continue even this week.
The market is trading at a reference area. Looks like there is a broken downward trend-line from the daily, but I will wait for the close above the 76.50 area to go long.
Both red trendlines have been respected by the price and therefore forming a triangle. Expecting to see a breakout in the coming week and trade from there. Goodluck.
