4 HOURS (H4)
Above the 4 hours clouds, supported by the ongoing H4 uptrend support line and currently under the new downtrend resistance line.
Watch :
Upside : former high @ 44'785
Downside : ongoing support trend line (currently around 43'650 which is also the top of the 4 hours clouds.
A breakout of one of those 2 levels will show further direction
RSI showing some uncertainty and indecision around the ongoing downtrend line resistance too !
1 hour (H1)
Currently supported on very short term (H1) by the cluster of MBB, TS KS and TS)
A failure to stay and hold on a hourly closing basis above this cluster (44'140-44'170) would be the first warning signal of a short term reversal move, calling for
the reenter, firstly in the 4 hours clouds (in overlay on the 4 hours chart in green) ahead of the hourly clouds support area, below between 43'250 and 42'900
Looking briefly at the DAILY PRICE ACTION, we can see an attempt to breakout the clouds with a long white candle triggered yesterday, which for the time being is not
confirming this yesterday's bullish price action. Watch today's closing level which should give more clues and validate or validate this long white bullish candle seen yesterday.
A clear breakout of the DAILY CLOUDS (on a daily closing basis !) would be very positive for further development, opening the door for the upside towards higher levels.
Have a nice trading day
Ironman8848 & Jean-Pierre Burki
Above the 4 hours clouds, supported by the ongoing H4 uptrend support line and currently under the new downtrend resistance line.
Watch :
Upside : former high @ 44'785
Downside : ongoing support trend line (currently around 43'650 which is also the top of the 4 hours clouds.
A breakout of one of those 2 levels will show further direction
RSI showing some uncertainty and indecision around the ongoing downtrend line resistance too !
1 hour (H1)
Currently supported on very short term (H1) by the cluster of MBB, TS KS and TS)
A failure to stay and hold on a hourly closing basis above this cluster (44'140-44'170) would be the first warning signal of a short term reversal move, calling for
the reenter, firstly in the 4 hours clouds (in overlay on the 4 hours chart in green) ahead of the hourly clouds support area, below between 43'250 and 42'900
Looking briefly at the DAILY PRICE ACTION, we can see an attempt to breakout the clouds with a long white candle triggered yesterday, which for the time being is not
confirming this yesterday's bullish price action. Watch today's closing level which should give more clues and validate or validate this long white bullish candle seen yesterday.
A clear breakout of the DAILY CLOUDS (on a daily closing basis !) would be very positive for further development, opening the door for the upside towards higher levels.
Have a nice trading day
Ironman8848 & Jean-Pierre Burki
