1. Price ended its three-wave correction as price approached the three-month low
near 1699.09 where wave A ended, indicating a possible bounce could occur as
the correction has come to an end.
2. A double bottom formation is building up with price testing the neckline at 2291.16. A
breakout to the upside would attract more buyers and push price higher.
3. Stochastics (34) hints further upside as there’s still room to run towards the
resistance level at 98.82.
4. Price stands above both 20-day and 50-day moving average. The formation of a
bullish crossover suggests further upside.
near 1699.09 where wave A ended, indicating a possible bounce could occur as
the correction has come to an end.
2. A double bottom formation is building up with price testing the neckline at 2291.16. A
breakout to the upside would attract more buyers and push price higher.
3. Stochastics (34) hints further upside as there’s still room to run towards the
resistance level at 98.82.
4. Price stands above both 20-day and 50-day moving average. The formation of a
bullish crossover suggests further upside.