had a major pump this week and price has reached 8428. This can be the end of bear trend. On weekly chart Tom Demark
count gave a green 1 after long weeks of bear trend. Last weekly green 1 we had was back in February. But because of bad news we could not get a green 2 and price has declined. Last succesful green 2 we had on a weekly basis was at October 2017. That green 2 gave us the bull run that pushed the price from 4600 to 20000. Green 2's on a weekly basis are long term bull trend signals according to Tom Demark
count. If we close next week with a green 2 we can be confident that we will have a long term bull trend. Stoch RSI
is oversold on weekly chart and it gave a buy signal by moving upwards. Last time that happened price was at 5963 and we have reached to 11580.
We should watch this week carefully, if we close this week with a green 2 it will be a perfect time for a long term entry.
Support level: 8265
Resistance levels: 8564, 9028