How I see this Gem. Short-term bullish as the price will likely retest 12250.00.
Targeting 12500.00 is possible. (lower TF) Waiting for a short will get a bigger slice of the pie. (in my view)
I'm waiting on supporting price action which will be another week away yet. Why does the target seem so far away? This is a bearish long-term projection. A mid-term bullish move would fill the gap at 12500.00 (weekly)
The failure to push much past 12500.00 would give us a reason to look for shorts at those levels to break 12000.00 as we make our way back to 10500.00
See the weekly bearish head and shoulders almost complete. (or zoom way out on the daily TF to see it ) A piercing line candle breaking past 50% of the body of the last candle and the gap above that. We have a bullish reversal pattern in a downtrend.
This bullish move will be short-lived when compared to the likely decline from these levels. Oh, we have beautiful fib numbers everywhere as well.
Let's see what it does.:)
As always, this a just a personal opinion and not a trade recommendation.
Targeting 12500.00 is possible. (lower TF) Waiting for a short will get a bigger slice of the pie. (in my view)
I'm waiting on supporting price action which will be another week away yet. Why does the target seem so far away? This is a bearish long-term projection. A mid-term bullish move would fill the gap at 12500.00 (weekly)
The failure to push much past 12500.00 would give us a reason to look for shorts at those levels to break 12000.00 as we make our way back to 10500.00
See the weekly bearish head and shoulders almost complete. (or zoom way out on the daily TF to see it ) A piercing line candle breaking past 50% of the body of the last candle and the gap above that. We have a bullish reversal pattern in a downtrend.
This bullish move will be short-lived when compared to the likely decline from these levels. Oh, we have beautiful fib numbers everywhere as well.
Let's see what it does.:)
As always, this a just a personal opinion and not a trade recommendation.
