The market is in an uptrend. We could join to it using breakout signals above the swing high, which was formed after moving above SMA100, and when the price broke the downtrend line after correction movement. These 2 entry levels allowed us to entry the market using good levels for buying in the beginning of the uptrend. Now the market tries to develop this upward movement and the close traget for reaching is 1300.00 resistance level. The market has everything for reaching this resistance and the question is, will it be done in the same impulse wave or after a correction movement to 1240.00 support level with further bouncing?
RSI reached the overbought zone but still continues upward movement. MACD lines and histogram support the upward movement. DMI is bullish and confirms trend market conditions. ADX moves upward and confirms the power of bulls.
The market keeps the uptrend and it looks bullish in the beginning of 2019. Happy Holidays)
P.S. Don't forget to share your ideas about this market in comments. Also I will be very grateful for your LIKES.
With stock aka SPX, DJI, and etc indicating that recession is coming, we have a good probability that damn shity paper money will go back to real money like, Gold, Silver, and Bitcoin =)
scanTrader
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thanks sir , this is my over view
dackintrit
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So buy level is 1240~1250?
Antonio_trader
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Antonio_trader
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@DLavrov Definitely agree with your analysis, it is now rising above the broken uptrend line, 61.8% area (1287/1300 area) resistance now. With markets on New Year period, not really expecting much movement for now.
InvestingScope
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Thanks for the wonderful input Dmitriy. What about the fact that the price is approaching the the 0.618 Fibonacci (1287)? This could be a top. But of course until (if) 1273 breaks, it is a bullish continuation with the Channel Up and we are targeting 1290:
DLavrov
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@InvestingScope, yes, it can be like you draw it. But if we talk about the uptrend, 0.618 Fib level will be broken and passed. May be this zone will push the market in correction to the previous support zones or SMA50, SMA100. And after that we will see the continuation of the uptrend.
InvestingScope
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@DLavrov, Excellent. Thanks for the clarification.
p1ng
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there was news that scientists figured out how to make gold out of copper