Hi ,
The market has consistently been rising as indicated in my yesterdays Analysis , The formation of series of HIGHER HIGHS $ HIGHER LOWS from 2nd May - 5Th May. This supports yesterdays idea on testing $3372 and infact went further up to $3380
If the fast EMA (8) is above the SLOW EMA (21) it then further supports the BULLISH COURSE.
If the RSI is hovering above 70 , this indicates the asset been OVERBROUGHT signaling a potential PULLBACK.
The PRICE consolidated before breaking out UPWARD , which indicates a CONTINUATION OF THE BULLISH TREND.
The current WAVES exhibits smooth pullbacks without DEEP CORRECTIONS , signaling STRONG BUYING PRESSURE.
The sudden SURGE in PRICE indicate INCREASING BULLISH MOMENTUM or a possible EXHAUSTION.
OVERALL we should hit $3372-85 and if the price breaks the zone and moves a little further it will signal further BUYS. If the PRICE breaks $3252 going down that should be your FALL CONFIRMATION.
Meanwhile i have a few buy positions active and waiting for further confirmation.
The market has consistently been rising as indicated in my yesterdays Analysis , The formation of series of HIGHER HIGHS $ HIGHER LOWS from 2nd May - 5Th May. This supports yesterdays idea on testing $3372 and infact went further up to $3380
If the fast EMA (8) is above the SLOW EMA (21) it then further supports the BULLISH COURSE.
If the RSI is hovering above 70 , this indicates the asset been OVERBROUGHT signaling a potential PULLBACK.
The PRICE consolidated before breaking out UPWARD , which indicates a CONTINUATION OF THE BULLISH TREND.
The current WAVES exhibits smooth pullbacks without DEEP CORRECTIONS , signaling STRONG BUYING PRESSURE.
The sudden SURGE in PRICE indicate INCREASING BULLISH MOMENTUM or a possible EXHAUSTION.
OVERALL we should hit $3372-85 and if the price breaks the zone and moves a little further it will signal further BUYS. If the PRICE breaks $3252 going down that should be your FALL CONFIRMATION.
Meanwhile i have a few buy positions active and waiting for further confirmation.
Note
TARGET CONFIRMED - As Indicated Earlier Bulls had the MOMENTUM RUN, We are currently headed for $3448.78 instead of the previous High Target of $3372 - 86 kindly don't go for BIG lots as the waving is so HARSH.Note
Ohooooooooooooooo We are going UPWARD Big time , $3447 is my only TAKE PROFIT ZONE for the BUY ENTRIES i had opened earlier.For those who wish to board the FLIGHT please be extra CAUTIOUS. board on!!! but be alert for THE UPDATES coming your way.
GEAR UP team we making the so called SKY ROCKET to $3447 and then afterwards relax analyze and see what the market has in store for us.
Will be back with further updates.
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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.