The bulls and bears are now toe to toe. Another bearish daily close and the lines will cross giving bears the upper hand. Looking at todays daily close, it’s quite clear that mondah will be a bearish day.
56.60 is now a Confirmed target. 58 is a potential target. 55.40 is a buy zone where I will be waiting to buy. Good luck. This analysis is for next week.
Sell 1.2975 TP1 1.2950 TP2 1.2930.
I posted this technical indicator few days showing the blue/red line beginning to close in order to cross each other . When red gets above the blue line, it suggests the bears are stronger and the odds of any bullish move become very thin. As we can see the red/blue line are starting to touch each other and cross over. Once that’s done, we will be dropping to at...
Here is the potential short term move.
We could end up going for a deep correction to 1.25 levels if the red line crosses the blue line (see arrow). Overall trend is now switched to bullish on weekly and monthly. 1.25-1.27 are levels to buy for target 1.3050 (med term target).
Chart says it all. Yellow line is SL SL. Top Red line is entry for short.