LRC broke above 1500 then had a fairly bullish charge as soon as it did. This was significant Support/Resistance for more than a week.
The good thing is we have broken this barrier and have come back down to retest it. For the short term time-frame it is holding.
12Hr Time frame
We have the Fib Retracement tool showing a deep retracement to 0.786
The current 12 hour candle is forming a doji which is potentially a 'morning star' in the making if people see this bullish potential.
We have had a Bullish TK Cross which is good, but the Tenkan and Kijin are going to act as resistance around 1580+/- (Be weary)
We are below the cloud, but depending on how slow the move up is the Fib Extension targets (shown on the 3 hour) are definitely possible targets depending on the speed of this move.
3Hr Time frame
I have shown the Fib Extension tool, with targets being 1:1 up to 1:1.618. If we make this zone you can expect a 17-28% gain
Right now we're testing the cloud, a good close above the cloud will be cause of Bullish-bias.
The good thing is we have broken this barrier and have come back down to retest it. For the short term time-frame it is holding.
12Hr Time frame
We have the Fib Retracement tool showing a deep retracement to 0.786
The current 12 hour candle is forming a doji which is potentially a 'morning star' in the making if people see this bullish potential.
We have had a Bullish TK Cross which is good, but the Tenkan and Kijin are going to act as resistance around 1580+/- (Be weary)
We are below the cloud, but depending on how slow the move up is the Fib Extension targets (shown on the 3 hour) are definitely possible targets depending on the speed of this move.
3Hr Time frame
I have shown the Fib Extension tool, with targets being 1:1 up to 1:1.618. If we make this zone you can expect a 17-28% gain
Right now we're testing the cloud, a good close above the cloud will be cause of Bullish-bias.