We are definitely in a bull market! For this week , I expect price to push up to the July high of 13283.70. These are some possible routes it will take to get there:
Scenario 1 -Red arrow
Price shoots up in the early hours of Monday, reaching the August high level of 13103 . Finding resistance ,it will bounce down to the 1300 level which is a significant psychological level (Price already tested this level on the 9th of October and failed to break through) before starting to make a greater push upwards .Once the Aug level of 13103 is broken, price will go unchecked until it reaches 13200 which is another physiological resistance level.
Scenario 2 -Green Arrow
Right off the bet price breaks the resistance at 13103 and pushes up until it finds resistance at 13200 , causing it to fall back to the Aug high level 13103 which then becomes support resulting in a greater push to the upside until price reaches the July high level of 13283.
Scenario 3-Puple Arrow
Price shoots up to the Aug level in early hours of trading but begins to go down by London open, only finding support at the June high level of 12943.53 and then starting a run for the July high level of 12943 with possible resistance at the 13200 level.
Scenario 1 -Red arrow
Price shoots up in the early hours of Monday, reaching the August high level of 13103 . Finding resistance ,it will bounce down to the 1300 level which is a significant psychological level (Price already tested this level on the 9th of October and failed to break through) before starting to make a greater push upwards .Once the Aug level of 13103 is broken, price will go unchecked until it reaches 13200 which is another physiological resistance level.
Scenario 2 -Green Arrow
Right off the bet price breaks the resistance at 13103 and pushes up until it finds resistance at 13200 , causing it to fall back to the Aug high level 13103 which then becomes support resulting in a greater push to the upside until price reaches the July high level of 13283.
Scenario 3-Puple Arrow
Price shoots up to the Aug level in early hours of trading but begins to go down by London open, only finding support at the June high level of 12943.53 and then starting a run for the July high level of 12943 with possible resistance at the 13200 level.