Although we can see that from the chart the price is at resistance area (downtrend channel), actually the indicators all look really good.
RSI above > 50
Stochastic Golden Cross
MACD Golden cross and above the zero line
So, the target @ 62xx is still plausible.
NB: These analyses are not intended as investment recommendations or as financial advice! Please...
It can be seen that from the chart, the price is in a sideways position ranging from FIB 23 (SUpport) to FIB 50 (Resistance). Also, in between of them, there are Fibonacci clusters (green area/line in the chart).
To conclude. Previous Idea supports and resistances are still holding. So, I should still put my target up to JKSE 6200 or FIB 61.
From the given chart, it can be seen that the E.W uptrend channel(green channel) which I drew months ago and followed by a correction downtrend channel(red channel) are still relevant.
Taking a closer look at the uptrend channel, we can see that the price is riding it nicely after it touched the lower area of the channel several times. SO, this can be used as a...
Waiting for when the correction is done.
NB: DO MIND that These analyses I posted here are intended as my notes and not as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. LETS CUANN!!!