Directional Analysis
Presented is a 1 hr chart directional analysis that sentiments a push to retest ultimate high.
Currently we see resistance at 2450.00. A breach and close out above may sentiment a bull run to retest key resistance to retest our high of 4200.00 range (with multiple resistance tests on the way).
I Mapped out key supports that must hold for the bulls in order to maintain a set up to breach through key resistance to retest our ultimate high.
Indicators are correlating volatile as RSI needs to breach 50 for continuation while MACDL/SIGNAl remain low in oversold zone. These lines must breach the 0 line for the bulls. SRSI needs to remain and pivot further into the overbought zone for bull sentiment.
DXY technical/fundamentals play a role on direction pending a continuation of todays volume surge.
Please comment with thoughts and ideas. Thank you.
Currently we see resistance at 2450.00. A breach and close out above may sentiment a bull run to retest key resistance to retest our high of 4200.00 range (with multiple resistance tests on the way).
I Mapped out key supports that must hold for the bulls in order to maintain a set up to breach through key resistance to retest our ultimate high.
Indicators are correlating volatile as RSI needs to breach 50 for continuation while MACDL/SIGNAl remain low in oversold zone. These lines must breach the 0 line for the bulls. SRSI needs to remain and pivot further into the overbought zone for bull sentiment.
DXY technical/fundamentals play a role on direction pending a continuation of todays volume surge.
Please comment with thoughts and ideas. Thank you.
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