Price will need to break above this box range to show any strength back in the market. A drop below the box range indicates another slide downwards.
Currently, MACD on this 1-hour time-frame is pushing up.
Place your bets.
Currently, MACD on this 1-hour time-frame is pushing up.
Place your bets.
Comment:
Price is battling around the support/resistance level we placed on our previous chart analysis for the 3-day time-frame. Check out our previous Ideas for details.
Comment:
Interestingly enough we are still ranging inside of that previous long candle from 3 days ago.
We have dipped above it. We have dipped below it. But we returned inside it. We need to look at the longer time-frames for a bigger picture on momentum and pressure building in the market.
We have dipped above it. We have dipped below it. But we returned inside it. We need to look at the longer time-frames for a bigger picture on momentum and pressure building in the market.
Comment:
Despite some breakouts, interesting to see we are still currently inside this trading range.
