An important situation is now taking shape. The last candle as a redemption, a bullish hammer, but in any case it will be clearer how we will close on the weekly timeframe and what will happen on Monday.
On the RSI, circled where it went beyond the lower channel boundary, statistically the instrument went up. Now we have a similar situation, a bullish signal
On the MACD there will be a crossover in the near future, if the movement continues.
Then the most important thing is to break through the resistance levels. 1,2 - more serious, from it the reversal can be down again. and 3 to update the maximum.
Now there should be a break in the trend, further up. The level is strong. 200 EMA should also help. Crossing the line and the horizontal level is a very powerful defense.
If this scenario breaks down - go lower to 315 almost. Fundamental factors from the Fed could contribute to this.
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On the RSI, circled where it went beyond the lower channel boundary, statistically the instrument went up. Now we have a similar situation, a bullish signal
On the MACD there will be a crossover in the near future, if the movement continues.
Then the most important thing is to break through the resistance levels. 1,2 - more serious, from it the reversal can be down again. and 3 to update the maximum.
Now there should be a break in the trend, further up. The level is strong. 200 EMA should also help. Crossing the line and the horizontal level is a very powerful defense.
If this scenario breaks down - go lower to 315 almost. Fundamental factors from the Fed could contribute to this.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Stock trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
