Comments on the chart. I am not calling a bottom here but there could be more upside in the works
Comment:
price is moving up. There is also major bullish divergence on the chart as well
Comment:
Price moved up sharply to 113.85 but lost all of the move and some by the end of the day to close at 1113.22. Price has now put in an inverse hammer which does not look good. However the RSI is not overbought. The bullish divergence may still be in play so I am bullish. Stock market was strong i.e risk on. Dollar index put in a bullish reversal this week as well. So I am still looking up
Comment:
price continued strong out of the gate sunday night. Price has given up lots of the upmove by the end of the day. Still bullish
Comment:
I am looking at this setback in price as wave 2 of 5. If it is so then price must hold 111.50. If this is true then we should see a strong upmove that will take out 115 relatively quickly. If that happens stop momentum will carry it towards 118. A break below the said area turns the picture very bearish and price towards 105
Comment:
Strong move to the upside has been seen. Still looking for more. Retracements in this one should be shallow