H1 : Double top target filled @ 53'128, low being @ 52'925.
Following this decline, a bullish divergence took place which has
been confirmed by the next candle by a BULLISH ENGULFING; recent price
action is showing also a potential reversal pattern (double bottom) which triggered
a sharp rebound, crossing over the double bottom trigger level @ 54'883.
Last candle closed @ 55'203 and a closing of the ongoing candle above that level
would give a second positive sign of this double bottom pattern in opening the door
for a target of 56'824... which coincides currently with the top of the clouds resistance area !!!
Watch also Mid Bollinger Band which has been also crossed over.
A failure to stay sustainably above 54'883 would invalidate this potential double bottom pattern.
Watch M15 for clues
M15 : 61.8 % Fib retracement @ 55'241 has been filled, high seen so far being 55'450 !
Watch the clouds, as for the time being, the upside breakout is not convincing enough yet.
Watch also Tenkan-Sen (55'018) as a very short term indicator, as a failure to stay and hold sustainably
would also warning of a reversal.
Watch M5 for clues
Following this decline, a bullish divergence took place which has
been confirmed by the next candle by a BULLISH ENGULFING; recent price
action is showing also a potential reversal pattern (double bottom) which triggered
a sharp rebound, crossing over the double bottom trigger level @ 54'883.
Last candle closed @ 55'203 and a closing of the ongoing candle above that level
would give a second positive sign of this double bottom pattern in opening the door
for a target of 56'824... which coincides currently with the top of the clouds resistance area !!!
Watch also Mid Bollinger Band which has been also crossed over.
A failure to stay sustainably above 54'883 would invalidate this potential double bottom pattern.
Watch M15 for clues
M15 : 61.8 % Fib retracement @ 55'241 has been filled, high seen so far being 55'450 !
Watch the clouds, as for the time being, the upside breakout is not convincing enough yet.
Watch also Tenkan-Sen (55'018) as a very short term indicator, as a failure to stay and hold sustainably
would also warning of a reversal.
Watch M5 for clues
M15 : currently reentering in a neutral zone (clouds)
Continue to watch closely upcoming price action on all short term time frames (H1, M15 and M5)