Bounced off from the perfect channel low, but the price action yesterday, disappoints in relative terms.
Looks market is waiting for some more clarity, the ration is the cause and effect.
US CPI numbers later today might set the tone or is it another data that vanishes in the din?, does not appear to be so.
Markets within this channel clearly shown the direction, regardless of the other indicators that print either or survivor nodes.
A break of the internal trendlines also indicative of the further move. So we have many points to navigate within this available information.
1. Base or top of the channel.
2. The break of the line of support or supply. Moving averages are of no use here.
3. Candle stick patters in those important places adds to the colour.
3. Is this the inverted hammer marked with arrow followed by large bull candle? Looks to be the case.
Suffice to say calm above the 47500, confidence above the 48500 that sets the tone of the range.
Looks market is waiting for some more clarity, the ration is the cause and effect.
US CPI numbers later today might set the tone or is it another data that vanishes in the din?, does not appear to be so.
Markets within this channel clearly shown the direction, regardless of the other indicators that print either or survivor nodes.
A break of the internal trendlines also indicative of the further move. So we have many points to navigate within this available information.
1. Base or top of the channel.
2. The break of the line of support or supply. Moving averages are of no use here.
3. Candle stick patters in those important places adds to the colour.
3. Is this the inverted hammer marked with arrow followed by large bull candle? Looks to be the case.
Suffice to say calm above the 47500, confidence above the 48500 that sets the tone of the range.
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