H4 : Triangle target is @ 48455. Nevertheless, as mentioned, in my previous D1 post,
it is likely and it is in progress, to see some recovery process which is expected to be
relatively limited.
Indeed, global picture remains heavy and is calling for further downside.
Tenkan-Sen (@ 54355) will be the first resistance level to break ahead of the Mid Bollinger
Band (@55110)
A recovery above the latter level would neutralise, at least on short term, the current downside
risk.
Interesting to note the thickness of the clouds resistance area which is indicating some fragility as
seen on the downside breakout, a couple days ago !
Watch H1 and M15 to get potential corrective targets
it is likely and it is in progress, to see some recovery process which is expected to be
relatively limited.
Indeed, global picture remains heavy and is calling for further downside.
Tenkan-Sen (@ 54355) will be the first resistance level to break ahead of the Mid Bollinger
Band (@55110)
A recovery above the latter level would neutralise, at least on short term, the current downside
risk.
Interesting to note the thickness of the clouds resistance area which is indicating some fragility as
seen on the downside breakout, a couple days ago !
Watch H1 and M15 to get potential corrective targets
