Looking at the H4 time frame, a Rising Wedge pattern has been confirmed, opening the door for
a technical target of 40'640 !
Additional support to this expected scenario will be given by a next H4 closing below TS, currently @ 43'803
Below next support to look at will be MBB @ 42725 ahead of KS @ 41'327
In the meantime, watch carefully upcoming development in the next couple of hours in screening very closely price action on
H1 and shorter time frames which will help you to validate or invalidate the above scenario explained.
Finally, today's closing level on a daily basis will also be important as on D1 there is a bearish divergence on RSI ....
Have a nice end of the weekend and all the best.
Take care.
Ironman8848
a technical target of 40'640 !
Additional support to this expected scenario will be given by a next H4 closing below TS, currently @ 43'803
Below next support to look at will be MBB @ 42725 ahead of KS @ 41'327
In the meantime, watch carefully upcoming development in the next couple of hours in screening very closely price action on
H1 and shorter time frames which will help you to validate or invalidate the above scenario explained.
Finally, today's closing level on a daily basis will also be important as on D1 there is a bearish divergence on RSI ....
Have a nice end of the weekend and all the best.
Take care.
Ironman8848
