The JP 225 index has created a perfect pennant , from October 2018.
Price is now at the apex of this pennant , with smaller corrective waves and low price volatility.
The index is fairly priced with short and long moving averages located within cooeee of the Monthly Pivot point.
Something will have to give in the next few weeks , with a breakout of this pennant and price sharply moving away from the pivot..
The bias is neutral , 24 K or 18 K . Who knows.
Price action with a confirmed breakout of the pennant will set the direction of the trade.
For the moment it is watch and wait....
Price is now at the apex of this pennant , with smaller corrective waves and low price volatility.
The index is fairly priced with short and long moving averages located within cooeee of the Monthly Pivot point.
Something will have to give in the next few weeks , with a breakout of this pennant and price sharply moving away from the pivot..
The bias is neutral , 24 K or 18 K . Who knows.
Price action with a confirmed breakout of the pennant will set the direction of the trade.
For the moment it is watch and wait....
Comment:
Look for short opportunities with price breaking lower channel....
