H4 : Recent price action is showing an attempt to breakout the Mid Bollinger Band support (wait for confirmation !)
Indeed, from the recent top we can see 2 bearish black candles and the ongoing candles will validate or invalidate the
ongoing tactical bearish price action which is for the time being in a 58350-54500 trading range.
If MBB hold once again, it is likely to see a recovery, opening the door for a retest of former highs.
Warning : a failure to hold above KS @ 54490 would trigger a downside acceleration which may put the focus on the
tactical uptrend suppor line, currently around 51500
Technical indicators are not showing any recovery yet !
Watch shorter time frames (H1,M15 and M5) to get intermediate signals
Have a nice trading day.
And last but not least, if you find my analysis bring you some additional value on your trading decision, do not hesitate to like it and to add me on your following list :-)
Indeed, from the recent top we can see 2 bearish black candles and the ongoing candles will validate or invalidate the
ongoing tactical bearish price action which is for the time being in a 58350-54500 trading range.
If MBB hold once again, it is likely to see a recovery, opening the door for a retest of former highs.
Warning : a failure to hold above KS @ 54490 would trigger a downside acceleration which may put the focus on the
tactical uptrend suppor line, currently around 51500
Technical indicators are not showing any recovery yet !
Watch shorter time frames (H1,M15 and M5) to get intermediate signals
Have a nice trading day.
And last but not least, if you find my analysis bring you some additional value on your trading decision, do not hesitate to like it and to add me on your following list :-)
