AF is trying to gap fill with a strong bullish engulf, it is trying to break 6. Weekly sell remains (RSI=43, MACD=-1.1, ADX=50) against recovering daily strong buy (RSI=70, MACD=0.1, ADX=36). The weekly pressure will be omitted if it breaks through Fib0.328(5.993).
A follow-through is needed. Long Still 4.5.
A follow-through is needed. Long Still 4.5.
Comment:
Worth mentioning, this is a natural response post 6-red weeks. Thus, the buying pressure increasing, and I am not taking profit yet. It is either break-even or TP higher.
Comment:
AF touches break and heavy profit-taking happens at Fib0.328=5.99.
Development of this week will conclude the direction as long as 4.5 holds.
Development of this week will conclude the direction as long as 4.5 holds.
Comment:
Daily chart - first support test EMA50 post bullish engulf week.
Upside 5.2
Downside 4.5-3.8 zone.
Daily chart - first support test EMA50 post bullish engulf week.
Upside 5.2
Downside 4.5-3.8 zone.
Comment:
AF hits 3.8 and falls below. It is not retesting the key level and should consolidate between 3.3-4.5 where scalping will happen.
Comment:
AF is in range trade (3.3 - 4.5) good for scalping.
Long term, it should consolidate this year and continue next year mid and later.
Long term, it should consolidate this year and continue next year mid and later.