Yesterday's price action (long black candle - BEARISH ENGULFING !) which pushed sharply down the BTC towards a low of 37'701 (nearly filling the TRIANGLE TARGET @ 37'581), triggered a BULLISH DIVERGENCE...
Therefore, on short term and it'is exactly what is going on, a recovery should take place; nevertheless and in order to confirm a TACTICAL REVERSAL, the BTC...
Looking at the daily picture, we can identify several important information :
1) caught in a $ 23.00 - $ 25.50 trading range
2) mix of a double bottom and double top
3) currently below the Mid Bollinger Band
4) in the middle of the sideways trading range above mentioned.
5) supported by the former uptrend support line (in green)
6) still below the ongoing...
URANIUM IS A MEDIUM/LONG TERM BUY WITH A STORY BEHIND IT !!!
M1 : BREAKOUT OF THE CLOUDS ON A MONTHLY BASIS
Plenty of space on the upside.
Begin to buy a LONG STRATEGIC POSITION AT CURRENT LEVEL
Investment vehicle : ETF URA (last price $ 21.35)
W1 : Last week price action triggered a BEARISH ENGULFING PATTERN !
Interesting to note that lowest seen was 51'541, close to the 38.2% Fib ret
@ 51106.
Of course, such kind of bearish candlesticks, should be, in this W1 time frame,
confirmed on a closing basis at the end of this week !
Nevertheless, the fact that we get out of the uptrend channel is one of the...
D1 : Yesterday's strong selloff towards an intraday low of 44845, in breaking briefly the Kijun-Sen (45273) level and rebounded sharply above it,
to finally close above the strategic uptrend support line which keep, for the time being, the bullish mode still intact.
Today's ongoing price action is showing a recovery followup in progress;...
D1 : The ongoing bearish tactical price action is currently triggering a long black bearish candle...
In addition the first significant support is now, not far away, TS @ 52134
A failure to hold above this important support level, would likely trigger further downside move in a
acceleration phase mode, putting the focus on the 23.6% Fib ret @...
H1 : Yesterday's price action, after having retested the former high above 52600, closed slightly lower
@ 51579. D1 indicators are losing some momentum.
Watch closely the former strategic uptrend resistance line which should be now seen as the first significant support area
in this time frame.
h4 : Recent price action seen from the peaks with...
D1 : The psychological level of 50'000 has nearly been reached early this morning (high so far 49938)
While the strategic outlook remains BULLISH, we are currently facing some tough resistances levels
to breakout.
Indeed :
1) strategic uptrend line resistance
2) potential double top (49715 and 49738)
3) psychological...
