Price is ranging around the supply area created at previous highs.
- 7260 needs to hold if we are to continue up , a violation of this low will be telling for the medium term price action potentially opening the door to 6800 if this level is broken.
Price has moved sharply into supply after Trump takes military action n the middle east..
Price could potentially stall here and start to sell off as long as price does not violate the high at 7550.
- Price is downtrending in the 4 hour chart and is now trading into some demand.
- Price violated the low at 7199 and formed a minor supply from the move down.
- Price is retesting the minor supply and could continue down from here.
- Bearish until price breaks 7135 unless price forms another high that is then violated.
Price is at a key area of resistance on the daily chart with price being in a downtrend this is a nice area where a lower high could potentially form opening to the door to a nice move down to form a lower low.
Alternatively we could see price spike these highs to run the stops set above the highs and spike up to a supply zone near 8500/9000 areas. If this...
