LeMogwai

LeMogwai

Right now we are facing a huge resistance to break above 600. In case of a bullish outcome : 1) First level of resistance is 602, closing the daily above it would be a good signal. 2) The next step of resistance is the area between 612 and 622 3) We have top resistance around 650 4) Then for a really bullish trend, breaking 690 would be really important In case...

LeMogwai

The price is waving in a descending triangle with a bottom line acting like a heavy support at 578. We should see another top before a breakdown around 587-588 (depends on the timing).

LeMogwai

The price is still in a descending channel, still targetting 560 if the uptrend line hold. Expecting a bounce to retest the 590- 600 area.

LeMogwai

We are making a pause in bear flag, expecting to fall lower soon. I m target the 560 area for a bigger bounce.

LeMogwai

As you can see, a lot of things were told back in time...

LeMogwai

We can clearly see a descending triangle forming on the 4h, i expect it to break down and bounce around 590 but it could go much lower depending the volume.

LeMogwai

If it's a falling wedge forming, we can expect price to hit 600-605 area (what i m expecting). If it's a descending triangle, we can expect a price around the 608-612 area.

LeMogwai

4h MACD crossed down again, expecting now a double bottom at 615 level, or a lower low around the 610 level.

LeMogwai

The 2h cloud support is slowly melting, next support should be on found on the 4h cloud around the 600-610 area. Time will tell if the bounce will push us to 650 again or if we will fall more to 580 area, below the 12h cloud.

LeMogwai

Expecting a break down of the current rising wedge to the 615-625 area

LeMogwai

This down leg isn't over yet, expecting a retest of the 540$ support line

LeMogwai

4h (violet one, not show on the idea) and 8h (blue) clouds are turning bearish the next expected support for a bounce is from the 12h cloud bottom line (red) and the 20h cloud (yellow). You can see this idea with other indicators here : A bounce to 595 right now is very probable, but i would not advise to play this move.

LeMogwai

We can see the formation of an ascending triangle, making me thinking of a rise to 640ish update :

LeMogwai

Waiting for a little bounce and the test to the low 500s support before resuming with the uptrend

LeMogwai

Expecting a correction now

LeMogwai

I m expecting that the support at 335$ is going to be tested again by the end of june.

LeMogwai

The trendline of the bearish triangle is driving the price down.

LeMogwai

Target : the 1.3460 - 1.3440 area