1) Long at 195.98 (Previous Weekly support + Daily Demand zone + 200 Daily Moving Average) - 3 Levels of confluence
2) Long at 229.7 (Latest Weekly Range Low + Daily Pivot - Acting as both support and resistance on the Daily chart)
Take note: We should not be overly bullish as well as there is a shift in Market structure.
- We finally put in a lower low on the weekly chart, but we should not be entirely bearish JUST YET, as it is not confirmed. It can only be confirmed after another lower high and lower low.
- Currently, this week candle looks like it will close as a spinning top.
- I like the reaction from 195.98 and will look for any bullish RSI divergence to add as confluence upon the second retest.
Take note: We should not be overly bullish as well as there is a shift in Market structure.
- We finally put in a lower low on the weekly chart, but we should not be entirely bearish JUST YET, as it is not confirmed. It can only be confirmed after another lower high and lower low.
- Currently, this week candle looks like it will close as a spinning top.
- I like the reaction from 195.98 and will look for any bullish RSI divergence to add as confluence upon the second retest.