H1 : Nice recovery towards a high of 57'555, filling it its way the 61.8% Fibonacci retracement @ 57386 !
It failed, for the time being to breakout the clouds resistance area. Interesting to note that the last candles
get smaller and smaller...
Therefore, I would strongly suggest to watch carefully price action over the coming hours, as above the clouds
there is a very fragile zone(57500-60000)
BULLISH :
A breakout success would accelerate the upside move sharply (look at the shape of
the clouds !) and open the door for the psychological 60'000 area again
BEARISH :
On the downside, first support to be considered is the support uptrend line starting from the low reached yesterday
@ 51541 and which is currently around 56500; below, the Mid Bollinger Band which as usual should be seen as a very
good indicator for further development.
M15 : Currently in a uptrend channel and above the clouds which are in this time zone around the 56500 which coincides
also with the level of the H1 support trend line above mentioned.
CONCLUSION : WATCH THE CLOUDS !
It failed, for the time being to breakout the clouds resistance area. Interesting to note that the last candles
get smaller and smaller...
Therefore, I would strongly suggest to watch carefully price action over the coming hours, as above the clouds
there is a very fragile zone(57500-60000)
BULLISH :
A breakout success would accelerate the upside move sharply (look at the shape of
the clouds !) and open the door for the psychological 60'000 area again
BEARISH :
On the downside, first support to be considered is the support uptrend line starting from the low reached yesterday
@ 51541 and which is currently around 56500; below, the Mid Bollinger Band which as usual should be seen as a very
good indicator for further development.
M15 : Currently in a uptrend channel and above the clouds which are in this time zone around the 56500 which coincides
also with the level of the H1 support trend line above mentioned.
CONCLUSION : WATCH THE CLOUDS !
