Looking at the 4 hours chart you can see the has CCI
and the ADX
have both shown a momentum shift coming over the last few days the only thing I was waiting for was the timing of when it was going to happen. First indicator that confirmed this was the Skoch RSI
followed by the MDCD. These momentum indicators are moving up fast now. I also want you to notice that we have pasted over and closed above the 10 MA and 20 MA which is the center bulanger band line then when coming back down the center line has acted as downward resistance. This is another good sign that we are headed in the right direction. I did no publish this but i want to point out that this was a perfect example of a double top
. The highest peak was about 141 and the lowest dip in between peaks was about 111. Doing the math this should have went down to 81 which is about exactly where it went before we seen this reversal. with that being said I think any where between 85 and 95 is a safe place to buy but we will see some resistance once we get to the neckline around the 111 mark. This is my analysis for now. If you like please let me know or comment. I you have anything bad to say keep it to yourself I don't claim to be an expert and I don't suggest you make your buys and sells based off my analysis. Do you owe research this is just what I see. Thanks!