On the 4H we went down to the neckline & FIB cluster support level at $7100 and $7400. If this breaks DOWN, we go to retest mid $6000 IMHO. 4H STOCH RSI oversold, RSI below 40 pointing slightly down, AO crossed into BEAR territory. MAs looking bearish. Not much to go on right now.
Looking at the 1D, RSI pointing down and at 40, AO showing improvement but definiately bearish. MAs looking bearish.
To regain short term positive momentum price needs to rise and stay above $7500 -$7600.
Be on the look out for fake outs UP or DOWN and work on candle closes. IMHO 4H best.
REMEMBER: ADYOR
Looking at the 1D, RSI pointing down and at 40, AO showing improvement but definiately bearish. MAs looking bearish.
To regain short term positive momentum price needs to rise and stay above $7500 -$7600.
Be on the look out for fake outs UP or DOWN and work on candle closes. IMHO 4H best.
REMEMBER: ADYOR
Comment:
Yep we had fake outs DOWN and UP....