As i mentioned yesterday in my signal and technical analysis, the market couldn't reach the 44.00 price point as there was a strong resistance that could reverse the market down for a while. As for today, the market is trying to get up but it has to cross the 41.69 resistance zone to confirm whether the market will go up again or not. We'll just wait and see what...
Pattern: Channel Up on 4H.
Signal: Bearish as the pattern made a Higher High just below the 1W Resistance. Also as per the previous symmetrical Channel Up after the Golden Cross a pull back below the 4H MA200 follows.
I am not going to over analyze this. Just a little possibility that the pitch fan indicates.
As long as the median provides Support (which was converted from a Resistance on the previous bullish leg) the 70.00 medium term target is possible. These indicators show that under those circumstances another +11% bullish sequence is certainly possible.
I know it may...