Hello Traders,
my mid term price target was achieved this morning.
N50 gaped to the upside and made an intraday high at 18543 and closed at 18445.
To view the hourly chart you will notice, that there was no „exorbitant“ selling pressure.
What could be next?
The move underway does not look to me as complete. So a new high is possible within an extending wave to or around the 18981 area!
If the gap up today has been a „exhausting gap“ the possibility is given, that N50 will decline for the reminder of the week to 179xx – 17441 - 17219 area!
For this idea, we need more facts!
As long as the trend is up, we favour the targets at the upside.
Have a great week.....
Ruebennase
Fell free to ask or comment!
Trading this analysis is at your own risk!
my mid term price target was achieved this morning.
N50 gaped to the upside and made an intraday high at 18543 and closed at 18445.
To view the hourly chart you will notice, that there was no „exorbitant“ selling pressure.
What could be next?
The move underway does not look to me as complete. So a new high is possible within an extending wave to or around the 18981 area!
If the gap up today has been a „exhausting gap“ the possibility is given, that N50 will decline for the reminder of the week to 179xx – 17441 - 17219 area!
For this idea, we need more facts!
As long as the trend is up, we favour the targets at the upside.
Have a great week.....
Ruebennase
Fell free to ask or comment!
Trading this analysis is at your own risk!