Bullish Momentum has begun. RSI is showing Bullish Divergence while price is making a lower low (You can see the opposite "W"s on price and RSI). This indicates that there is a change in momentum and buyers are overpowering the sellers. Within the next few weeks we will see some bullishness possibly hitting some important fibs.
Entry will be after we break...
Check out the chart. The measured move down from the triangle that was broken measures down to 8500. Then we have the Daily 200 MA at 7500. In my last post i talked about possible capitulation into a true bull market. Shake out all of the weak hands and touch the 200 EMA would be the ideal situation to break through to higher supports. The downward movement...
My last post was biased towards the long side. So, here is a new chart with long and short targets after a breakout. Unfortunately, you are going to have to watch closely for the next few weeks to find out what actually happens. My Opinion, is still leaning towards the macro-bull side, but short term I am short.
SHORT - (possible capitulation) downwards to...
There is literally no need for me to explain. Just look at the charts, follow the ranges and triangles. "IF" the first one breaks-out upwards then most likely the second will with its momentum.