Expecting a correction towards the 9600ish support level where it will consolidate,
might fall through the gap down towards 8300 support.
After that we’re ready for another push up!
Overbought according to the yearly and monthly lineair regression. RSI exceeding the chart currently, expecting it to come down to the 34ish support line.
Grow in Volume, positive MACD strategy and todays upward correction towards the bullish trend baseline all show me this is a buy.
I made an assumption before the weekend and this still stands(first green arrow+ bullish trendline drawn friday), I was very close on this one :)
We might see a minor correction, but should be following the upward trendline and keep...
OPEC has an agreement with Russia, tomorrow april 10th they will be seeing America.
The MACD is not in favor of the bulltrend tho.
I'm carefully expecting a trend reversal to the bearish side, but buying if we go over the 18.3ish mark.
I see a hard resistance level incoming, based on historical lows and fibonacci ratio's.
My guess is a pullback to the level of long term bottoms trendline, followed up by a testing of the resistance again.
As seen there is a historical low resistance level @3123.7, and a fibonacci ratio of 0.382 @3091.265
I've tried to draw the small bullish trendline which will be colliding with these very soon.
This might indicate an end of this short term increase and a fallback to the bearish trend known as the CoVid19 crash or atleast a long term battle trying to break through...
