H1 : Last long white candle triggered a RSI BEARISH DIVERGENCE
on a "overbought" zone !
Watch upcoming price action very carefully and first support to look
at is the ongoing short term uptrend support line , currently @ 57'500, which
also coincides with the Tenkan-Sen !
A failure to hold above this area would open for the following targets :
S1 : 57'092
S2 : 56'500 (VERY IMPORTANT)
S3 : 55'464
S4 : 54'735
and the clouds support area.
On the upside, a recovery above the former high @ 58'549 would put the focus on the
psychological level of 60'000 ahead of 61'066 (78.6% Fib ret)
M15 : On this very short term picture, the situation is pretty clear, a failure to hold
above the CLUSTER (Tenkan-Sen, Mid Bollinger Band and Kijun-Sen) would confirm a top in place
calling for lower levels.
Please note that the short term uptrend support line coincides with the top of the clouds support
in this time frame.
Clouds a day, clouds always :-)
Have a nice trading day
All the best and take care
Kind regards
Ironman8848
on a "overbought" zone !
Watch upcoming price action very carefully and first support to look
at is the ongoing short term uptrend support line , currently @ 57'500, which
also coincides with the Tenkan-Sen !
A failure to hold above this area would open for the following targets :
S1 : 57'092
S2 : 56'500 (VERY IMPORTANT)
S3 : 55'464
S4 : 54'735
and the clouds support area.
On the upside, a recovery above the former high @ 58'549 would put the focus on the
psychological level of 60'000 ahead of 61'066 (78.6% Fib ret)
M15 : On this very short term picture, the situation is pretty clear, a failure to hold
above the CLUSTER (Tenkan-Sen, Mid Bollinger Band and Kijun-Sen) would confirm a top in place
calling for lower levels.
Please note that the short term uptrend support line coincides with the top of the clouds support
in this time frame.
Clouds a day, clouds always :-)
Have a nice trading day
All the best and take care
Kind regards
Ironman8848
