M1 : Ongoing downtrend price action
W1 : Currently below 40'550 (W1 pivot level)
Weekly closing today, will give clues for next week
D1 : Ongoing downtrend, below the cluster (MBB, KS and TS)
In a kind of broad triangle formation in progress !!
Failure to stay and hold, on a daily closing above the current
support trend line would be negative for the upcoming session (s) and
would open the door for further downside towards the former lows (35'000,
33500 ahead of the psychological support level of 30'000)
H4 : Currently in the 3rd phase of downtrend price action, in a triangle formation
in progress !, below MBB, but, still, for the time being above KS and TS; a failure to
stay and hold above 36'000 on a H4 closing basis would trigger further selling pressure.
H1 : Failure to hold above the short term uptrend support line triggered some sideways price
action, caught on both sides by the clouds area. Watch for a breakout !
M30 : Same than H1, watch the clouds for clues
M15 : Already below the clouds, Watch 38'000 on the upside and 37'000 on the upside as very short term
levels indicators.
M5 : Breakout of a triangle pattern which may trigger a move of 1586 pts, targeting respectively 35'815 on the downside
and 39'350 on the upside.
Looking at the ongoing price action it seems that a downside move is likely to happen.
Watch carefully price action over the upcoming M5 period (s)
Have nice Sunday, have fun, take care and all the best to all of you
Best regards
Ironman8848
W1 : Currently below 40'550 (W1 pivot level)
Weekly closing today, will give clues for next week
D1 : Ongoing downtrend, below the cluster (MBB, KS and TS)
In a kind of broad triangle formation in progress !!
Failure to stay and hold, on a daily closing above the current
support trend line would be negative for the upcoming session (s) and
would open the door for further downside towards the former lows (35'000,
33500 ahead of the psychological support level of 30'000)
H4 : Currently in the 3rd phase of downtrend price action, in a triangle formation
in progress !, below MBB, but, still, for the time being above KS and TS; a failure to
stay and hold above 36'000 on a H4 closing basis would trigger further selling pressure.
H1 : Failure to hold above the short term uptrend support line triggered some sideways price
action, caught on both sides by the clouds area. Watch for a breakout !
M30 : Same than H1, watch the clouds for clues
M15 : Already below the clouds, Watch 38'000 on the upside and 37'000 on the upside as very short term
levels indicators.
M5 : Breakout of a triangle pattern which may trigger a move of 1586 pts, targeting respectively 35'815 on the downside
and 39'350 on the upside.
Looking at the ongoing price action it seems that a downside move is likely to happen.
Watch carefully price action over the upcoming M5 period (s)
Have nice Sunday, have fun, take care and all the best to all of you
Best regards
Ironman8848
