LRM_Trader

LRM_Trader

As I mentioned back on Thursday that Bulls need to hold above 3100-3105. The lowest was 3105.25 level and hold on the lower channel and bounce. this is a There Symmetrical Triangle, and there was a cup and handle pattern inside the Symmetrical Triangle, and we had breakout 3130-3135 level and shooting up nicely (broke-out 3157, 3169, 3183 key levels). Now, we have...

LRM_Trader

I am seeing this as a potential C&H pattern if we can breakout 3050-3060 level.

LRM_Trader

one possible way to go if we have gap down opening on Sunday. Looking for 3058-3050 level for short-term bounce, and I see 2920 level for major support as well.

LRM_Trader

Identical pattern happened on Jan-Feb 2020 and now with a bearish divergence on RSI. It is still on the upper-trend, but be careful to see if it may fall through the rising channel next week.

LRM_Trader

I expect we re-test 3125 3137 3145 levels

LRM_Trader

still possible inverted H&S pattern, rejected by 5ma on 30mins charts, lets see if 5ma can turn up first.

LRM_Trader

Possible inverted H&S pattern, watch if we can fill the gap first.

LRM_Trader

Double Top (or you may call triple top if you count the first one on left) on hourly chart. We may see gap down on Sunday, and watch 3006-3015 level first.

LRM_Trader

possible C&H pattern for long-term view. Looking to form a "handle" first.

LRM_Trader

3137 key level, and 3140-3150 supply zone.

LRM_Trader

Update chart

LRM_Trader

big move is expected to come soon, with Bollinger Bands come closer, I expect we should see direction very soon.

LRM_Trader

reject by trendline top, waiting for direction.

LRM_Trader

Still possible C&H pattern formation, but today it got rejected by 3101 level several times and remains under the trendline.

LRM_Trader

potential C&H pattern, looking to breakout

LRM_Trader

if we continue to fall back this week, possible to see next target to 2850 level this week.

LRM_Trader

ready to make a move from here - 2993 and 3002 are key levels

LRM_Trader

possible inverted H&S setup for overnight