1) We just had a great run up very close to the bearish downtrend line and are surely overextended with divergences on the 1H RSI/MACD.
2) The recent move down pushed the 1H RSI very low which is excellent because one more push will put it clean into the oversold territory, setting up for another continuation upwards.
3) Since it didn't actually complete the move up to the downtrend line I expect this retrace to expend its strength quickly.
4) I anticipate that to be around the 9900 area which is a massive intraday support zone and also the lower center line of this entire bull-trends pitchfork.
5) 9900 is also the 4H 200 MA.
These points are showing us that 9900 will be very hard to break and will be a great buy opportunity, and will most likely provide the fuel to push us through 11800 (d/t line). If we clear there then it is on to 13600 and beyond.
Remember, now that there is a bull trend forming, the floodgates of sidelined/mainstream money are reopening.
To infinity and beyond!
Act now or fourth ever hold your peace.
2) The recent move down pushed the 1H RSI very low which is excellent because one more push will put it clean into the oversold territory, setting up for another continuation upwards.
3) Since it didn't actually complete the move up to the downtrend line I expect this retrace to expend its strength quickly.
4) I anticipate that to be around the 9900 area which is a massive intraday support zone and also the lower center line of this entire bull-trends pitchfork.
5) 9900 is also the 4H 200 MA.
These points are showing us that 9900 will be very hard to break and will be a great buy opportunity, and will most likely provide the fuel to push us through 11800 (d/t line). If we clear there then it is on to 13600 and beyond.
Remember, now that there is a bull trend forming, the floodgates of sidelined/mainstream money are reopening.
To infinity and beyond!
Act now or fourth ever hold your peace.
Comment:
Note: Intra-weely low at 9900, hmmmmmmm
Comment:
Failed retrace, looks like we may retrace quickly to 10600 before running to 11600.
Comment:
Still buying @ 10k, retrace was just postponed.
Trade closed: stop reached:
Lots of sell volume, out until we reach a clear bottom, will post updated chart then.