Weekly levels: grey
Monthly: Black
Daily: yellow
And some other supports and resistances (Weekly and daily)
As i wrote last week, we didn't get out of the bear market yet. On a log chart, we never passed the Daily line.
Here price action show us a bullish doji and an inside bar is forming. There is a red sell zone just above. A nice bullish move would be a cross above the zone. Otherway, i'am still expecting a rebound from the sell zone to the zone under us (10427) where there is lots of confluences and supports (monthly,weekly, daily..).
We are in a bull impulse still, so this doesn't have to go until there. We will see. At this point i don't except a deeper correction.
Have a look at the monthly and weekly chart to see the trading range that is in play. In monthly, we are at a k point because we have a bullish inside bar wich can turn as a bearish inverted hammer.. (this is just the beginnig of the month, the bar is open, so will see how this go). The weekly is red but i wouldn't be concern until it goes under 10427)
Monthly: Black
Daily: yellow
And some other supports and resistances (Weekly and daily)
As i wrote last week, we didn't get out of the bear market yet. On a log chart, we never passed the Daily line.
Here price action show us a bullish doji and an inside bar is forming. There is a red sell zone just above. A nice bullish move would be a cross above the zone. Otherway, i'am still expecting a rebound from the sell zone to the zone under us (10427) where there is lots of confluences and supports (monthly,weekly, daily..).
We are in a bull impulse still, so this doesn't have to go until there. We will see. At this point i don't except a deeper correction.
Have a look at the monthly and weekly chart to see the trading range that is in play. In monthly, we are at a k point because we have a bullish inside bar wich can turn as a bearish inverted hammer.. (this is just the beginnig of the month, the bar is open, so will see how this go). The weekly is red but i wouldn't be concern until it goes under 10427)
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