Falling wedge and edge of support. Short term potentially Long on a confirmed breakout.
Watch for *volume* as we had a blatant bull trap previously.
Moreover bulls need to push price over 9350$ in order to achieve something meaningful.
Avoid taking unneeded risks under support, have a TP / SL.
Watch for *volume* as we had a blatant bull trap previously.
Moreover bulls need to push price over 9350$ in order to achieve something meaningful.
Avoid taking unneeded risks under support, have a TP / SL.
Comment:
Zig-Zag.
Support did hold tonight, yet that's not enough. Bulls now NEED to breakout 9350$ for a further chance to test resistance an hope into a big pennant.
If support crumbles bears get the upper hand.
Support did hold tonight, yet that's not enough. Bulls now NEED to breakout 9350$ for a further chance to test resistance an hope into a big pennant.
If support crumbles bears get the upper hand.
Comment:
Comment:
Ok bulls should confirm this pennant.
Otherwise i'd say troublesome time ahead.
A further test of support from below 9350$ should be avoided, being extremely risky.
Have a stop placed.
Otherwise i'd say troublesome time ahead.
A further test of support from below 9350$ should be avoided, being extremely risky.
Have a stop placed.
Comment:
TD=9 already confirmed on daily.
Hopefully a bump up will happen within 2-3 days.
We'll see.
Hopefully a bump up will happen within 2-3 days.
We'll see.
Comment:
Here's the bump, a couple days later:
Bulls need volume and a close over 9350$ in order to shake the market a bit.
Bulls need volume and a close over 9350$ in order to shake the market a bit.
Comment:
As a sidenote: if they somewhat manage to get a daily close OVER the upper BB limit at 9450$, that can be really interesting.
Observing.
Observing.
Comment:
Nice push on volume of upper BB.
Looking good so far, but there's still the july 31th CME futures hurdle.
We'll see.
Looking good so far, but there's still the july 31th CME futures hurdle.
We'll see.
Comment:
So today is the first important confrimation point: CME futures expiration and monthly close. We'll' have to check weekly close as well on sunday.
Comment:
Let's hope in a good close monthly close today, and hopefully a weekly close over 11500$, above the upper BB limit.
It would be very bullish.
It would be very bullish.
Comment:
Comment:
Compare back with April '19.
Comment:
Trying to breakout triangle:
Comment:
Early to say, but we may have a diamond forming.
That's a prettty unpredictable pattern, which may hint either the start of a parabolic rise ( half staff ) or a strong pullback to the 10k range ( diamond top ).
Let's see how it develops.
If you're Long don't forget to have a TP placed.
That's a prettty unpredictable pattern, which may hint either the start of a parabolic rise ( half staff ) or a strong pullback to the 10k range ( diamond top ).
Let's see how it develops.
If you're Long don't forget to have a TP placed.
Comment:
Here it is:
Mind that's just speculation, for now,
Mind that's just speculation, for now,
Comment:
And here it is, a quite sparse diamond.
Looks like a half staff, but diamonds have usually cumbersome breakouts.
So watch for volume and/or breakout of recent highs.
Don't take risks below current interim support ( see lower bound of diamond )
Looks like a half staff, but diamonds have usually cumbersome breakouts.
So watch for volume and/or breakout of recent highs.
Don't take risks below current interim support ( see lower bound of diamond )
Comment:
OBV trying to breakout.
Watch it on WEEKLY CLOSE.
Watch it on WEEKLY CLOSE.
Comment:
Heh ... that's why i hate diamonds ( you know):
Comment:
For now support did hold.
Let's hope to avoid a double top here.
Let's hope to avoid a double top here.
Comment:
Very sparse ascending truangle encompassing the diamond formation.
Slight bullish bias, but as i wrote days ago, diamonds are cumbersome, so bettere waiting for a clear breakout or a breakdown of support.
Slight bullish bias, but as i wrote days ago, diamonds are cumbersome, so bettere waiting for a clear breakout or a breakdown of support.
Comment:
That's why you've to be careful when diamonds are involved.
Ugly.
Ugly.
Comment:
Bulls should try to keep pèrice over the 10800-11000$ mark.
Anything less would mean risk of confirming a diamond top + double top.
Anything less would mean risk of confirming a diamond top + double top.
Comment:
Hopefully BB middle line will provide support for a bounce.
Comment:
Short term scenario:
Bulls should try to confirm the ascending triangle and hence breakout resistance.
Filp of the coin: be careful on a confirmed (on daily close) loss of closest support.
Bulls should try to confirm the ascending triangle and hence breakout resistance.
Filp of the coin: be careful on a confirmed (on daily close) loss of closest support.
Comment:
NOTE: It would desirable to have a breakout of resistance soon, as a triangle falure
and test of closest support *MAY* imply a rising wedge pattern forming.
Hence a risky scenario. We'll see.
and test of closest support *MAY* imply a rising wedge pattern forming.
Hence a risky scenario. We'll see.
Comment:
Zooming:
Comment:
Perfect breakout, see volume.
It's already at first resistance, let's see because 12500$ is a key level.
It's already at first resistance, let's see because 12500$ is a key level.
Comment:
Ping pong.
We have to see whether lower bound of triangle holds.
Don't take any unneeded risks, have a TP under support.
We have to see whether lower bound of triangle holds.
Don't take any unneeded risks, have a TP under support.
Comment:
Triangle gone, drifting towards support.
CME futures expiration on friday means likely volatility ahead.
As usual, avoid taking risks without a SL
Would like to see some sideways movement above 10500,$ in order to ignite a bounce within next few days. We have a TD count=8 already, if price is going to hold over support we may achieve a good rebound.
CME futures expiration on friday means likely volatility ahead.
As usual, avoid taking risks without a SL
Would like to see some sideways movement above 10500,$ in order to ignite a bounce within next few days. We have a TD count=8 already, if price is going to hold over support we may achieve a good rebound.
Comment:
Fine. TD count=9 achieved.
There's a tight descending channel ongoing, as long as support holds i'd like to see bulls doing this:
We'll see, today we have CME futures expiration, next 2-3 days will tell.
There's a tight descending channel ongoing, as long as support holds i'd like to see bulls doing this:
We'll see, today we have CME futures expiration, next 2-3 days will tell.
Comment:
Shaping well.
Comment:
At key support again after failed breakout of 12100$:
Watch it.
Watch it.
Comment:
OBV:
See retest of previous ATH.
A strong reaction from here is needed in order to confirm bull trend.
See retest of previous ATH.
A strong reaction from here is needed in order to confirm bull trend.
Comment:
This:
Comment:
Finally, price is testing MA20/W, which is a crucial level for short term trend:
Lots of strain on it already.
Bulls should find a decent bounce soon otherwise a flashcrash may happen.
Even within next 48hrs.