The support at 6879 was strong and the price action after some consolidation decides to charge ahead and has now broken the 8000 price level. Now, I expect some minor correction before it breaks out of the bearish trend line and continue to charge higher.
Alternatively, it can retest one more time with a pullback at the diagonal trend line , heads south towards the support at 6879 again before rebounding.
Go to 4H or 1H for better price entry.
Trade cautiously.
Alternatively, it can retest one more time with a pullback at the diagonal trend line , heads south towards the support at 6879 again before rebounding.
Go to 4H or 1H for better price entry.
Trade cautiously.
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Sorry folks, it appears to be a false breakout.
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Some support at 7795, this may be a catalyst to push the price up again....
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8 Jan - 1st attempt to break out - failed.
10 Jan - 2nd attempt to break out - touching the bearish trend line
11 Jan - follow through on 10 Jan to break out - failed
Next week, there is a possibility of it breaking out based on 10 Jan strong bullish candle, signalling buyers are pretty strong and 11 Jan is a pull back. Watch closely now.
10 Jan - 2nd attempt to break out - touching the bearish trend line
11 Jan - follow through on 10 Jan to break out - failed
Next week, there is a possibility of it breaking out based on 10 Jan strong bullish candle, signalling buyers are pretty strong and 11 Jan is a pull back. Watch closely now.
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resistance at 8184, let's see who wins at the end, bulls or bears then we take side
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Praise Lord. Our analysis this time was right. It shoot up to the moon.Congrats to those who followed.
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at the rate it is going, it can well hit the 10,000 psychological level again.
