POSSIBLE BULLISH TRIAL!SHORT TERM!
Hello my friends,
For first time since the whole correction, i am seeing a good structure for bulls in short term.
Nice ABCDE correction downtrend channel, bottoming in wave E and now in process for a good
bullish pattern (Inverse Head and Shoulders), which can bring us in a break out of main channel.
As we said in previous analysis, bulls must recapture 52k and 55k area to turn market bullish again.
Those two areas are giving new important higher highs that will indicate changing of trend.
The current structure seems a bullish preparation for 52k attack from bulls.
Even if i am yet cautious and yet bearish as the trend is yer bearish from 69k top,
i am taking this short term long position and i am looking for the neckline target area between 50700 - 51000.
Buy levels - 47000 - 47900
Target Level 50700 - 51000
This case is for saying BUY THE DIPS.
Breaking the neckline and confirming with retest, we will have double bottom that gives exactly 54k - 55k area
that is the second must recapture bullish area.
Your comments are appreciated.
Have a nice day and good luck with your choices.
For first time since the whole correction, i am seeing a good structure for bulls in short term.
Nice ABCDE correction downtrend channel, bottoming in wave E and now in process for a good
bullish pattern (Inverse Head and Shoulders), which can bring us in a break out of main channel.
As we said in previous analysis, bulls must recapture 52k and 55k area to turn market bullish again.
Those two areas are giving new important higher highs that will indicate changing of trend.
The current structure seems a bullish preparation for 52k attack from bulls.
Even if i am yet cautious and yet bearish as the trend is yer bearish from 69k top,
i am taking this short term long position and i am looking for the neckline target area between 50700 - 51000.
Buy levels - 47000 - 47900
Target Level 50700 - 51000
This case is for saying BUY THE DIPS.
Breaking the neckline and confirming with retest, we will have double bottom that gives exactly 54k - 55k area
that is the second must recapture bullish area.
Your comments are appreciated.
Have a nice day and good luck with your choices.
Comment:
Comment:
Comment: