The shortterm-uptrend is still dominant. At present we are trading near a Pivot Point, the twice tested supportlevel @ 46.6$ - here i exspect a "decision-making-move".
Resists: 47.5/48,35/49,1 Supports:45.28/44.5/43.4
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Former View: Update Main View:
Today we have reached the 61.8 fibo of the downswing 51,6-39,3 (yellow fibos). The open position is comfortable in the win (+7.25$). At this fibo level a corrective downmove is possible (BBs are stressed out) - perhaps down to the "traders dream" - the 38,2 fibo from the movement ( 39,3-47,04) at 44,82$ - the former breakout level! At latest here the present midterm uptrend in this tf should be resumed. My Main view is still active!
Main view: CAN THIS BE TRUE? DEZ 2016: 75$ ???
What do my tired eyes see?? Isn`t it a big bottom pattern in form of an exemplary H&S? The RSI signs, that there is still a bit air on the downside. A dip back to the 38,2 fibo @ 41,92$ would be great. A dip to the 0,5 fibo normal and a dip to the 61,8 maximal. If this level would be bought, a H&S is being formed. Prices above the neckline could interpreted as a BIG LONG SIGNAL. I have illustrated the possible TPs in my chart