Monthly Close is Near. Retest or more down?

2020年9月30日

So the monthly close is in about 10 hours. We can already have a look at the monthly right now. Sure there can be a lot of things happen during 10h but let's check what we already have:

So we broke out of resistance in July and went a bit higher in August (12500). In September as expected we went down but not that far that I would like (9800). Since then we formed a wick to the downside and the picture gets a bit clearer now: This looks like a retest of previous resistance (yellow box). If we manage to close the monthly IN the box I lean more to the bullish side with a possible target from the previous month (12500) or even higher to last year's high (14000).