We can see that there is a clear range illustrated by the market. The top and bottom blue lines are the new support and resistance.
We have two clear reasons to see that the possibilities for the market going bullish increasing significantly:
-The formation of the candlesticks on the support line, taping the line to rebound.
-Combined with the strong volume bigger than all of the other ones before.
Go bullish for the moment, we are in the middle of the range. Take decision after new analysis when the resistance is reached.
Possibilities:
-Pullback down again (Stay in the range)
-Strong break but return into the same range (To get rid of all buyers)
-Strong break with volumes and the formation of the right candle stick afterwards for a new long entry.
-Beware of the support line which still stays another possibility if it keeps ranging
Timing:
-If already in the market in the long direction exit at the top blue line or the next red candlestick.
-Strong probability to see the top level reached: beginning of next week.
We have two clear reasons to see that the possibilities for the market going bullish increasing significantly:
-The formation of the candlesticks on the support line, taping the line to rebound.
-Combined with the strong volume bigger than all of the other ones before.
Go bullish for the moment, we are in the middle of the range. Take decision after new analysis when the resistance is reached.
Possibilities:
-Pullback down again (Stay in the range)
-Strong break but return into the same range (To get rid of all buyers)
-Strong break with volumes and the formation of the right candle stick afterwards for a new long entry.
-Beware of the support line which still stays another possibility if it keeps ranging
Timing:
-If already in the market in the long direction exit at the top blue line or the next red candlestick.
-Strong probability to see the top level reached: beginning of next week.