1. Trading will start testing on the 50% level @ $93.5x to exit the support zone and passes to the 61.8% level @ $94.xx:
Case(1): Price will break the 61.8% level after testing in the uptrend direction aiming to hit two profit targets. Target(1) around $93.5x and may break this line to perform the target(2) @ $95.5x. The major objective is to perform a LH point.
Case(2): Price will retrace from the 61.8% level in a down trend direction to make a HL point around $91.3x which can be considered as stop loss limit.
2. Political news and military status in Ukraine will play a big role in the general mood of markets where the land gains by Russians in the direction to the capital may increase the probability of uptrend market as well as level of escalations from US and western countries on Russia.
3. If the meeting between Russian and Ukrainians bring good news, this will give a trust for traders and make a positive sign for markets uptrend.
I used Fib patterns, ZigZag ++ , and RSI indicators in my interpretation for the chart.
Case(1): Price will break the 61.8% level after testing in the uptrend direction aiming to hit two profit targets. Target(1) around $93.5x and may break this line to perform the target(2) @ $95.5x. The major objective is to perform a LH point.
Case(2): Price will retrace from the 61.8% level in a down trend direction to make a HL point around $91.3x which can be considered as stop loss limit.
2. Political news and military status in Ukraine will play a big role in the general mood of markets where the land gains by Russians in the direction to the capital may increase the probability of uptrend market as well as level of escalations from US and western countries on Russia.
3. If the meeting between Russian and Ukrainians bring good news, this will give a trust for traders and make a positive sign for markets uptrend.
I used Fib patterns, ZigZag ++ , and RSI indicators in my interpretation for the chart.
Note
Expectations as per Fib patternNote
First target below $95.3x not $93.5xNote
A red hanging man candle appears now as of now (inside green circle). Bears are selling to collect profits from last closing day
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.