In the 1-4h charts there is a slight chance for Adam/Eve pattern, we have had our first dump retraced fast and today we have are 2nd dump retracing slower..
This pattern doesn’t play out many times but it has some sentiment there is also a small bullish divergence on the 4h but on the rsi have buy support was broken down.. so i don’t give it that much value..
If this pattern plays out targets are
1st 8800-8820
2nd 8950-9000
3th 9100-9200
It is a long and hard way up!!
If bears are able to break below the 50DMA I won’t give the range of 8500-8000 that much credit to be support! As daily is also forming a descending triangle and that target could be 7200!
This pattern doesn’t play out many times but it has some sentiment there is also a small bullish divergence on the 4h but on the rsi have buy support was broken down.. so i don’t give it that much value..
If this pattern plays out targets are
1st 8800-8820
2nd 8950-9000
3th 9100-9200
It is a long and hard way up!!
If bears are able to break below the 50DMA I won’t give the range of 8500-8000 that much credit to be support! As daily is also forming a descending triangle and that target could be 7200!
