I have to go cautiously bullish. Thought was seeing another bear flag - big one, but not so sure now as market holding up too long. On 4 hour chart my first leg target has been hit. MACD and Stoch RSI all looking bullish. I think it would have been better for a recovery had market gone lower to repeat pattern of last dive in February. Price on the 4 hour chart has also broken through 20 bar MA, and I guess needs to hold on to that. Interesting to see what happens around $8,604. A strong break through on the 2 hour chart to touch my Bollinger lines would be further bullish for me (my Bollinger's set 20,close,3). Patterns look bullish but none of my usual confirmation signals yet. Maybe will get some pullback ? The high in December was over by midday London time. Maybe this last phase waiting till midday London time today?
Comment:
Shame G20 got in the way of a more attractive low.