12-Year Downtrend broken, what's next? Confirmed Uptrend?
TREND:
Lowest Low = 2017
Last High = 2018
Higher Low = 2020
Higher High = ?
When we make an higher high above current STRONG RESISTANCE you could say that we are in an confirmed uptrend.
STRONG RESISTANCE: 122.5 - 124.5
This zone accounted 3 times as support, one breakdown in 2015 and then acted 2 times as resistance.
You do not want to forget this important S and R Zone when price breaks out of this zone, look for entry on breakout or the retest
CURRENT SUPPORT: 114 - 116
S&R-Flip that happend in November Lines up the with 0.5 Retracement (Dow theory)
Last summer we have broken a 12 year downtrend wich could be accounted for new support
This is the aggressive buying zone, for the ones who likes some more risk
TARGET REVERSAL PATTERNS: 138 - 140
Target based on measurement off Inverse Head&Shoudlers and Double Bottom
Also had 3 Knock outs (Hammer) out of this zone in the past
Lowest Low = 2017
Last High = 2018
Higher Low = 2020
Higher High = ?
When we make an higher high above current STRONG RESISTANCE you could say that we are in an confirmed uptrend.
STRONG RESISTANCE: 122.5 - 124.5
This zone accounted 3 times as support, one breakdown in 2015 and then acted 2 times as resistance.
You do not want to forget this important S and R Zone when price breaks out of this zone, look for entry on breakout or the retest
CURRENT SUPPORT: 114 - 116
S&R-Flip that happend in November Lines up the with 0.5 Retracement (Dow theory)
Last summer we have broken a 12 year downtrend wich could be accounted for new support
This is the aggressive buying zone, for the ones who likes some more risk
TARGET REVERSAL PATTERNS: 138 - 140
Target based on measurement off Inverse Head&Shoudlers and Double Bottom
Also had 3 Knock outs (Hammer) out of this zone in the past