So the bad news are that we broke down the uptrending channel yesterday because of the rallying dollar.
The breakdown volume was also good...
And we also break down the smaller descending channel which was a false breakdown because
- and here comes the good news-
we are still back into this channel.
If we can close back above the 10 EMA today than the whole yesterday's 10EMA broke down will be erased and we
are bullish again.
300 EMA is the support on the hourly chart. If that falls 20 EMA is the next resistance on the hourly chart.
If you enter your trading platform you will see that everything is in red today - except the dollar.
They will buy something when the USA opens. It should be stocks and if stocks rally oil will follow.
The breakdown volume was also good...
And we also break down the smaller descending channel which was a false breakdown because
- and here comes the good news-
we are still back into this channel.
If we can close back above the 10 EMA today than the whole yesterday's 10EMA broke down will be erased and we
are bullish again.
300 EMA is the support on the hourly chart. If that falls 20 EMA is the next resistance on the hourly chart.
If you enter your trading platform you will see that everything is in red today - except the dollar.
They will buy something when the USA opens. It should be stocks and if stocks rally oil will follow.
Note
If we could break above 44.50 back into the big channel:that would be a very bullish sign to me.
Note
Back above the daily 10 EMA.YEsterday's close below the 10 EMA starts to seem a fake out move...
That's the reason I dont like to jump in and out.
Note
Back into the big uptrend channel.Bullish.
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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.
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.