The problem with this commodity is low volume. There was no directional movement for the past.
But, now long term directional movement may come from the next week. For this crucial factors are:
1. Price Movement:
A.
2.22 was the level from where last swing started but it was created only by non US Countries. Now US Countries did not make any lower than this.
B.
Valid lower points are 2.124 and 2.015. Once these levels are completed, then only the circle will complete.
C.
As mentioned above, the low of the swing was made at 2.22 last time, the US (evening session) may like to go below this but it is not likely that it will go any lower that 2.015.
2. Time Movement.
I have marked three vertical candles on the chart
a. 1-22-24 11:31 AM
b. 1-23-24 5:15 AM
c. 1-23-24 10:59 PM
These candles are likely to form a trend line and then unidirectional upward movement for the next weeks to come.
So, Please wait for the candles till Tuesday and then the trend will automatically get cleared.
Will keep you posted.
Disclaimer: I am not a Registered Analyst with any National/International Regulatory Agency. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses. This is only for educational purposes.
Let you grow. May! I follow you.