Support turning to resistance. C-clamp/Tk disequilibrium and Kijun bounce.
The first major resistance of the year with a big bearish divergence hitting, if the resistance holds possible drop to the down side targets $5600 and a bit below it. A likely formation of bearish pennant flag pattern will probably for with this level as well.
Risk Disclaimer:
TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
The first major resistance of the year with a big bearish divergence hitting, if the resistance holds possible drop to the down side targets $5600 and a bit below it. A likely formation of bearish pennant flag pattern will probably for with this level as well.
Risk Disclaimer:
TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.