There seems to be a bit more of a bullish buzz at the moment. While that's nice, this is often the time when the market suddenly turns and everyone gets caught out.
While there has been some nice bullish moves, I remain cautious until the following conditions:-
Until then, short term swing trades remain the safest option.
Volume still looks low and we could see a reversal occur between 4050 - 4400.
Weekly Chart
While there has been some nice bullish moves, I remain cautious until the following conditions:-
- A break above the MULTI-YEAR trendline (red-dashes) and
- A break above the long term downwards channel (purple dashes)
- A higher high on the D1 chart
Until then, short term swing trades remain the safest option.
Volume still looks low and we could see a reversal occur between 4050 - 4400.
Weekly Chart
