Hello Traders,
yesterday N50 create a „bearish engulfing“ at chart, a reversal pattern.
Today N50 spiked down to the area of support around 12769-12790 and reversed after, closed the day in positive territory. As long as N50 is trading below yesterday’s high /(at 13145.85) the chance for lower price is acute (from a technical perspective)! Any push above this high open the door to higher price still.
A first target zone is the high at 13145.85 with more bullish potential in the coming days ahead.
A decline below the „break-out“ range opens the door to ~12505.70.
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
yesterday N50 create a „bearish engulfing“ at chart, a reversal pattern.
Today N50 spiked down to the area of support around 12769-12790 and reversed after, closed the day in positive territory. As long as N50 is trading below yesterday’s high /(at 13145.85) the chance for lower price is acute (from a technical perspective)! Any push above this high open the door to higher price still.
A first target zone is the high at 13145.85 with more bullish potential in the coming days ahead.
A decline below the „break-out“ range opens the door to ~12505.70.
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!