30 of Sept: Last daily bar is a counterattack bullish candle line. I believe it neurtralised a bit the downtrend, though downward momentum still exists as seen through EMA8 cross below EMA50. The critical region is the Support Line at the region 96.30 +- 0.20
Given the price remains above that level its likely to be bullish in the medium term.
Awaiting for a clearer long scenario.
1st Oct Daily bar bias: neutral - its probably best looking into
smaller timeframes to decide the direction
Given the price remains above that level its likely to be bullish in the medium term.
Awaiting for a clearer long scenario.
1st Oct Daily bar bias: neutral - its probably best looking into
smaller timeframes to decide the direction
2nd Oct Daily bar bias: slight long bias unless the price breaks the lows of the prior daily bar.
If the daily breaks above prior bar highs, then it could rally.
If I go long (on a smaller timeframe), I shall use tight stoplosses as a big selloff could also be possible
3rd of Oct Daily bar bias: neutral but expecting new lows. I would like to be 'proved right' saying long but there is no confirmation other that just saying its at an Oversold region. Would wait to see if the support at 97 region will hold if tested and look into consider going long.
4th of Oct Daily bar bias: neutral. Still being below the moving averages and trendline just keeps the momentum downards however the last daily bar was an indecision bar and on Friday the bulls could take control. Either way, its probably worth giving it a shot and joining the bulls tomorrow as the reward to risk ratio is high. Though I feel the probability of success is 50 50%. Must be careful in case there are new lows.