4hr: Reversal pattern at support 1D: Bottom of trend channel + Bullish engulfing + Class A RSI bullish divergence 1W: Uptrend Sidenotes: 1 hr short term potential downside towards Golden Pocket entry @ $87.90.
-Monthly resistance reactions +1M Bearish engulfing + 1W H&S + 1D H&S -Fibonacci Time zones from low to high (Vertical lines) + Reversals at each line
Argument: -Development of triple bullish divergence at a critical ice line dating back to December 1st, 2015. -Bullish weekly Hammer -Bullish engulfing developing -Macd extended
Will we reverse at the .786 level? We are at a resistance zone. 4hr RSI near oversold. 1hr RSI beginning downtrend.
We have got a hug symmetrical triangle formed. RSI awaiting full reset to oversold. Possible increased volatility, large wicks to Golden Pockets. Psychological supports at 2500 and 2000.
Currently breaking out of wedge. Look for back test of break o ut line for an entry.
New to this, possibly a premature set up. Should wait for confirmation.