H1 : Below the clouds and last H1 closing below the uptrend line support
Low seen so far @ 54428
Global picture still looks negative as for the time being any upside move
should be seen as a corrective move only in a short term bear trend calling for lower
levels and a retest of former lows around 53500/53000
A move above the junction of both former uptrend line support and the new downtrend
line resistance (cluster around 55600) would neutralise the ongoing downside risk
M15 : Currently in a new short term downtrend channel with resistance (top of the channel currently
also around 55600 which coincides with the cluster above mentioned in H1.
For the time being, it looks like a SELL on rally and not yet a BUY on dips.
Have fun
Take care
Low seen so far @ 54428
Global picture still looks negative as for the time being any upside move
should be seen as a corrective move only in a short term bear trend calling for lower
levels and a retest of former lows around 53500/53000
A move above the junction of both former uptrend line support and the new downtrend
line resistance (cluster around 55600) would neutralise the ongoing downside risk
M15 : Currently in a new short term downtrend channel with resistance (top of the channel currently
also around 55600 which coincides with the cluster above mentioned in H1.
For the time being, it looks like a SELL on rally and not yet a BUY on dips.
Have fun
Take care
