Not strong enough!
in Friday's trading, the bulls pushed the market to the upside from the 13500 level. As long as we are under 13818, none of this will remain sustainable.
Wave should already make it into the 13890 region! If this step is taken, we can assume further upward movements in the direction of 14400. If there is no push over 13818, the probabilities for lower prices increase daily. I am assuming the start of an impulsive wave 3 (in the larger picture).
So far, the bulls have lagged behind expectations for the structure of this wave 3 and the market is still vulnerable to sell-offs towards the 12915 level.
H4 chart:
in Friday's trading, the bulls pushed the market to the upside from the 13500 level. As long as we are under 13818, none of this will remain sustainable.
Wave should already make it into the 13890 region! If this step is taken, we can assume further upward movements in the direction of 14400. If there is no push over 13818, the probabilities for lower prices increase daily. I am assuming the start of an impulsive wave 3 (in the larger picture).
So far, the bulls have lagged behind expectations for the structure of this wave 3 and the market is still vulnerable to sell-offs towards the 12915 level.
H4 chart:
