Long if we can stay above 233 for the next 24 hours
Up if we can stay above 233 for the next 24 hours, probably with room up to 280.
This would mean that we leave the current daily downtrend and are back in a uptrend from smaller magnitude than the last. But still there is the bigger downtrend which cuts through and will break market down at 280.
After that all hope is lost and we will fall to earth(not really earth, but it will be lower lows.).
Second scenario ( which i prefer ). We will fail to breakout and fall down to last low. This would mean we will stay on the current trend till we found enough resistance on the ground to start another uptrendrally similar to the lst ones, but on bigger volumes and higher prices.
Just my oppinion. I am still bearish at the long term. We will see some action in 7 to 14 days (downsides).
This would mean that we leave the current daily downtrend and are back in a uptrend from smaller magnitude than the last. But still there is the bigger downtrend which cuts through and will break market down at 280.
After that all hope is lost and we will fall to earth(not really earth, but it will be lower lows.).
Second scenario ( which i prefer ). We will fail to breakout and fall down to last low. This would mean we will stay on the current trend till we found enough resistance on the ground to start another uptrendrally similar to the lst ones, but on bigger volumes and higher prices.
Just my oppinion. I am still bearish at the long term. We will see some action in 7 to 14 days (downsides).
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