If we look at the weekly TF since prices fell from $2050 High to $1862 Low on the week of August 10, 2020, prices haven't been able to close below $1920 which was the 2011 High, and prices have continued to hover above $1920 until now.
In my previous analysis, I estimate that the week of September 14, 2020 (plus/minus 1 week) is the time to consider to buying back. But looking at last week's closing price at $1965ish, in my point of view, this is an early warning sign that buyers are starting to re-enter. therefore in the next week, I will start to re-book the flight seats with caution, because leg 3 is not completely complete (please see this chart : //s3.amazonaws.com/tradingview/snapshots/w/WbkuDNfX.png).
Flight failures may still occur, if plus/minus 1 week from September 14, 2020, the price can be closed below $1920/10, then this closing price may cause prices fall lower until September 28, 2020 or until October 19, 2020, but if there is no close below $1920/10 then the price may move up again until September 28, 2020 or until October 19, 2020 plus/minus 1 week (please see this chart :
//s3.amazonaws.com/tradingview/snapshots/v/Ve5prDHw.png.
Let's see how the bulls will react.
ooOoo From The Desk Of NewBie ooOoo
In my previous analysis, I estimate that the week of September 14, 2020 (plus/minus 1 week) is the time to consider to buying back. But looking at last week's closing price at $1965ish, in my point of view, this is an early warning sign that buyers are starting to re-enter. therefore in the next week, I will start to re-book the flight seats with caution, because leg 3 is not completely complete (please see this chart : //s3.amazonaws.com/tradingview/snapshots/w/WbkuDNfX.png).
Flight failures may still occur, if plus/minus 1 week from September 14, 2020, the price can be closed below $1920/10, then this closing price may cause prices fall lower until September 28, 2020 or until October 19, 2020, but if there is no close below $1920/10 then the price may move up again until September 28, 2020 or until October 19, 2020 plus/minus 1 week (please see this chart :
//s3.amazonaws.com/tradingview/snapshots/v/Ve5prDHw.png.
Let's see how the bulls will react.
ooOoo From The Desk Of NewBie ooOoo
