Price was neatly rejected at R1 642 and has since retraced back to P 629 which is also the 0.5 fib retrace point.
The 1H MACD is rising, with Fisher below 3.
Occilators are neutral which provides enough energy for another push up.
I picked up a new Indicator published by LazyBear which you can see at the bottom of my chart. In addition to the Impulse indicator I have found the range (the grey area) to be useful. You can see from the areas I have marked on the chart that when the range pinches there has been a move quickly after.
Because of this, and the other points I made I believe that it is due to start making another leg up to an initial target of 660 within 1-3 hours.
While R2 is 650 and x50 levels provide a natural psychological resistance/support level, it is only 8 points above R1 and if the price should pause there I dont think it will be for very long with a move up to RM3 at 660. The 660-70 level has proven to be a tough nut to crack and expect that once again it will pause there with a short retrace before the final push past that point can happen.
And with a final note, today is Full Moon :) Just a thought.
The 1H MACD is rising, with Fisher below 3.
Occilators are neutral which provides enough energy for another push up.
I picked up a new Indicator published by LazyBear which you can see at the bottom of my chart. In addition to the Impulse indicator I have found the range (the grey area) to be useful. You can see from the areas I have marked on the chart that when the range pinches there has been a move quickly after.
Because of this, and the other points I made I believe that it is due to start making another leg up to an initial target of 660 within 1-3 hours.
While R2 is 650 and x50 levels provide a natural psychological resistance/support level, it is only 8 points above R1 and if the price should pause there I dont think it will be for very long with a move up to RM3 at 660. The 660-70 level has proven to be a tough nut to crack and expect that once again it will pause there with a short retrace before the final push past that point can happen.
And with a final note, today is Full Moon :) Just a thought.