It appears to be going up captain. But the question is, how?
If we pop straight up, expect to see resistance at 59345 and 61165. If we retrace first, we should get support at 55575.
If we pop straight up, expect to see resistance at 59345 and 61165. If we retrace first, we should get support at 55575.
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I want to see a close above 57950 on the 1-hour chart for bullish continuation.
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We got a close above 57950, therefore continuation...
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Plus a nice bull flag on lower time frame.
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Looking good.
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The only issue is that we say goodbye to March today. Monthly (and 3-Monthly) closes create mad volatility and could magnetise price action around 58354.
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As anticipated, some mad volatility came in from the monthly. Let's see if they hold 55575.
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The monthly closed higher, the 3-day broke the bear trend, the daily closed higher, and the 4-hour held support. I'm still waiting for a pop up to 61165 and possibly beyond.
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They finally closed above 59345 on the 4-hour. If we stay above this level we’re still on track for 61165. There should be lots of liquidity coming up in this area, stops from all the short positions over the last few days.
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Final leg up from the bull flag?
