Fib 38.2 lvl held up on three occasions and swing failure patterns emerged after three bearish attempts to break below 10300 lvl failed to materialize
Price broke out of the triangle and volume starts to climb up
Price is on the verge of breaking out of the flag pattern to form the potential higher high on 1 hr time frame
Bullish hidden divergence spotted on the 4hr time frame
Price lvl is above the RSI 50 lvl support and RSI trendline is solid in place
Pullback to around 10900 seems likely if the price goes back to inside of the the flag pattern. If 10700 lvl fails to hold, the flag pattern and hourly ascending trendline will be broken.
If that happens, 4hr trendline will probably be retested around 10650 lvl supported by Tenken line and 50 EMA
Not ruling out the possibility of price going sideway between 10600 lvl and 10800 lvl if the bullish momentum dies out
Price broke out of the triangle and volume starts to climb up
Price is on the verge of breaking out of the flag pattern to form the potential higher high on 1 hr time frame
Bullish hidden divergence spotted on the 4hr time frame
Price lvl is above the RSI 50 lvl support and RSI trendline is solid in place
Pullback to around 10900 seems likely if the price goes back to inside of the the flag pattern. If 10700 lvl fails to hold, the flag pattern and hourly ascending trendline will be broken.
If that happens, 4hr trendline will probably be retested around 10650 lvl supported by Tenken line and 50 EMA
Not ruling out the possibility of price going sideway between 10600 lvl and 10800 lvl if the bullish momentum dies out