Price broke above the 11800 resistance/range high two days ago but
closed below it and has since fallen back towards the middle of the
range. On H1 chart we see how price has tested the Daily S1 at 10830
which also mark the lower end of an ascending channel and Horizontal
support. If this level holds support, chances are we will see a move to
the daily pivot point at 11320 and above that we have R1 at 11660 and
then the upper range again at 11800. Some bullish divergence
can be noted on the hourly, but it hasn't yet came through
in price action.
closed below it and has since fallen back towards the middle of the
range. On H1 chart we see how price has tested the Daily S1 at 10830
which also mark the lower end of an ascending channel and Horizontal
support. If this level holds support, chances are we will see a move to
the daily pivot point at 11320 and above that we have R1 at 11660 and
then the upper range again at 11800. Some bullish divergence
can be noted on the hourly, but it hasn't yet came through
in price action.
