I am overall bearish due to fundamental reasons and indicators, however, market sentiment is most likely bullish right now, especially after the last drawback and quick recovery of yesterday apparent in the long-legged doji on the 12H candle where bears were beaten on the day by the bulls. Although bulls have only managed a lower high since recovering.
The pennant would have to break the 200MA on the D TF which has not been broken since falling beneath it in March, but a breakthrough could happen just to complete this continuation pattern to $8700 and then drag back down.
THIS IS NOT FINANCIAL ADVICE I AM SIMPLY ANALYSING AND SHARING TO LEARN MORE.
Safe Trading!!I
取消訂單
⋅
We have broke the pennant downwards and have found support on $7750, if this does not hold the next leg down is the $7400 support.