Resistance Rejection successful

8 ביוני 2018

So far the price is trading according to our plan as a Three Outside Up rejection on the 5H 7,756.3 High is pulling the price down to the Rectangle's (RSI = 52.174, ADX = 19.563, CCI = 16.3127, Highs/Lows = 0) support zone = 7,373.10 - 7,437.20. I do not expect this Rectangle to hold on much longer as the 1D Resistance (MACD = -220.100) should continue pushing lower on a slow pace (June 3th's = 7,777.4 High continues to Resist any upside break-out). Intra day scalping targets are: 7,508.50 and 7,437.20. Short term TP = 7,100 intact. The volumes remain very low (11.04K) and no uptrend is sustainable under such conditions.