H1 : The upside triangle breakout triggered a nice move which went up so far
towards a high of 61234 (potential double top formation !)
Indeed, looking at the breakout price action, you can see, firstly the breakout
followed by a pullback towards the former resistance area, which hold and which
triggered the next upside leg with a long white candle and then a "shooting star".
Important to note that the high of this shooting star coincides roughly with the former
high seen in April 10th @ 61222.
In addition, technical indicators are for most of them not converging but are rather showing
bearish divergences !!!
Therefore, I would strongly suggest to look at carefully the former triangle apex which should
be seen as the short term cluster support.
Indeed, a failure to stay and hold above the already mentioned several times, 60'000 level would
reopen the door for lower levels with immediate congestion zone support shown by the clouds support
area 59800-59300 !!!
M15 : Watch Mid Bollinger Band currently @ 60400 as the first very short term support level !
Interesting to note that the M15 clouds support zone coincides also with the ongoing very short term
support trend line which is currently around 59800
towards a high of 61234 (potential double top formation !)
Indeed, looking at the breakout price action, you can see, firstly the breakout
followed by a pullback towards the former resistance area, which hold and which
triggered the next upside leg with a long white candle and then a "shooting star".
Important to note that the high of this shooting star coincides roughly with the former
high seen in April 10th @ 61222.
In addition, technical indicators are for most of them not converging but are rather showing
bearish divergences !!!
Therefore, I would strongly suggest to look at carefully the former triangle apex which should
be seen as the short term cluster support.
Indeed, a failure to stay and hold above the already mentioned several times, 60'000 level would
reopen the door for lower levels with immediate congestion zone support shown by the clouds support
area 59800-59300 !!!
M15 : Watch Mid Bollinger Band currently @ 60400 as the first very short term support level !
Interesting to note that the M15 clouds support zone coincides also with the ongoing very short term
support trend line which is currently around 59800
