2nd target, Confirming our analysis was correct
Hi Guys,
after some high volatility (not over yet) our second target ( please read previous post) is confirming to be a high resistance price as expected, although it was not initially confirmed when price broke it like it was nothing. It went from resistance to support then resistance and now support again (this is called a mirror level, powerful indicator of resistance, sell and buy price).
What I would like to see now is price consolidate towards the long term trend line (yellow) and sometime around next week see the price make another push higher (purple).
trend support this scenario, daily momentum supports it, short term fundamentals support it and resistances support it. Let see if it develops.
what do you guys think and why? please let us start some discussion on this!
this is not a trading or investment advice. Everyone should trade at their own risk.
all the best and GL
Mike
after some high volatility (not over yet) our second target ( please read previous post) is confirming to be a high resistance price as expected, although it was not initially confirmed when price broke it like it was nothing. It went from resistance to support then resistance and now support again (this is called a mirror level, powerful indicator of resistance, sell and buy price).
What I would like to see now is price consolidate towards the long term trend line (yellow) and sometime around next week see the price make another push higher (purple).
trend support this scenario, daily momentum supports it, short term fundamentals support it and resistances support it. Let see if it develops.
what do you guys think and why? please let us start some discussion on this!
this is not a trading or investment advice. Everyone should trade at their own risk.
all the best and GL
Mike
forgot to share my targets:
1st: 1689
2nd: 1718
GL everyone!