Looks like it wants 537 and revisit the gap below.

Never financial advice. Just offering perspective.

Trade closed: target reached

Target reached & exceeded. [537.38] 575 was the ultimate target where there is a massive bearish imbalance on the monthly timeframe and breach into 580 for complete profit taking. On the the monthly timeframe 699.54 is where the monthly model completes. This will be seen after these keys areas are conquered, 575, 604.93, 634.78. That is IF bulls want to take it there. It's encouraging for bulls above 604.93. Be aware that this is on a higher time horizon and may take a long-term approach to buy into this outlook. Again, this update is looking from a Monthly timeframe, meaning each candlestick represents 1 month and is not represented above, which is 4h timeframe. This can happen rather quickly based on the setup yet, may take quite a bit if time to develop.

Consider 528 an area where the market could revisit for liquidity to move higher. A strong reaction from bulls here could help solidify this thesis. Always do your own due diligence. Hopefully this helps. :)

Note

While the moves for bulls have been encouraging, it is responsible to look at both sides. On the weekly analysis, a transition to 505.38, 487-488, and/ or 468.93, is not off the table. :)

bwinvests

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bwinvests

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