10 March - Thin Red Line between the Bulls and the Bears

Updated

Finally is recovering and it seems to be wanting to breach the double top neck line. If that's successful, 9300 will become the new support. 4hr Stochastic RSI indicates that we should be on our way to breach that level. And if it breaks up with volume and momentum, we should see returning to 11k ranges in the next few days. Otherwise, we might go down to 8K ranges again. Will update soon.

*** Educational purposes only ***

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In the grand scheme of the 2hr timeframe, it looks like a double bottom and hopefully we might reach 9750.

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correction: 9650.

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We have been channelling inside the blue channel, inside the ascending triangle for a few hours already. Lower timeframes are showing signs of oversold condition meaning we might see a small correction. Higher timeframes 4hr and daily are promising still. My guess is we shouldn't see the 8k ranges anymore but if we come down to the late 8k - early 9k ranges, we should be able to bounce back quickly.

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I believe we have one more hurdle to go. Fear not however, I also believe the correction will not be anything drastic (fingers crossed) compared to the past few days.

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We did nearly hit 9600 (95xx) before we correct to our current position. Hopefully this is the last correction. I can't bear to see it anymore.

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Are we breaking down or not?

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Right we went down briefly into 92's. 1 Day RSI - bullish. We are good.

I believe we are coming back up above 10's tomorrow. Fingers crossed.

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Bull flag

paper_value

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