Prices are seen moving in the range between $1536 Jan 2020 Low and $1611 Jan 2020 High, from January 2020 to the present. It looks like the Bull and Bear are fighting to conquer each other.
Will The Bull Be Able To Win This Fight ?
From this chart approach (please copy and paste this link to your browser : s3.amazonaws.com/tradingview/snapshots/f/fNaXIuyw.png), Bears will only win this fight if they can conquer $1557 Sept 2019 High (min) or $1540 Jan 2020 Low (max). But that possibility is not easy, because there is some support at the levels of $1555, $1535, $1515, $1495 and $1445 (see my previous analysis).
Meanwhile from this chart approach (please copy and paste this link to your browser : s3.amazonaws.com/tradingview/snapshots/y/yL8M4ZgA.png) at least the Bulls can still maintain $1557 Sept 2019 High and $1540 Jan 2020 Low to date, but they have not been able to conquer $1611 Jan 2020 High. From the chart approach, at least this week and afterwards the Bull must be able to move above $1595 and retest $1611 Jan 2020 High to make the changes. If this can be done by Bull, then prices will move higher up to March or April 2020.
My main chart above shows that the week of Feb 17, 2020 is a very important week, considering this week coincides with the Fed meeting.
Let's see, will Bull or Bear win this fight ?
--oOo-- From The Desk Of NewBie --oOo--
Will The Bull Be Able To Win This Fight ?
From this chart approach (please copy and paste this link to your browser : s3.amazonaws.com/tradingview/snapshots/f/fNaXIuyw.png), Bears will only win this fight if they can conquer $1557 Sept 2019 High (min) or $1540 Jan 2020 Low (max). But that possibility is not easy, because there is some support at the levels of $1555, $1535, $1515, $1495 and $1445 (see my previous analysis).
Meanwhile from this chart approach (please copy and paste this link to your browser : s3.amazonaws.com/tradingview/snapshots/y/yL8M4ZgA.png) at least the Bulls can still maintain $1557 Sept 2019 High and $1540 Jan 2020 Low to date, but they have not been able to conquer $1611 Jan 2020 High. From the chart approach, at least this week and afterwards the Bull must be able to move above $1595 and retest $1611 Jan 2020 High to make the changes. If this can be done by Bull, then prices will move higher up to March or April 2020.
My main chart above shows that the week of Feb 17, 2020 is a very important week, considering this week coincides with the Fed meeting.
Let's see, will Bull or Bear win this fight ?
--oOo-- From The Desk Of NewBie --oOo--
