Daily consolidation is underway.
A daily lower high at 58,120 has been found by the current session by reaching a lower price compared to the previous session, starting daily consolidation.
After bouncing from levels not seen since 30 days ago (52,530) the price has managed to retrace significantly (between 61 and 78 fib) giving bulls confidence for a possible daily uptrend.
Looks like a weekly higher low is shaping, unless bulls fail to hold the bounce low during the current weekly session plus one more.
Further daily consolidation is still on the table if price fail to hold todays low (56,090). Buyers hope to confirm a daily bullflag by holding it and surpass the lower high soon for the weekly bounce.
Can we confirm the bullflag?
After bouncing from levels not seen since 30 days ago (52,530) the price has managed to retrace significantly (between 61 and 78 fib) giving bulls confidence for a possible daily uptrend.
Looks like a weekly higher low is shaping, unless bulls fail to hold the bounce low during the current weekly session plus one more.
Further daily consolidation is still on the table if price fail to hold todays low (56,090). Buyers hope to confirm a daily bullflag by holding it and surpass the lower high soon for the weekly bounce.
Can we confirm the bullflag?
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