...looks like a bullish end to the week, at least from a technical perspective.
* 1hr mixed/rangy to bullish
* 4hr 4 x consecutive HL's now and a HH, and if last week's hi is broken to the upside, what will be a 2nd HH. There is 'double regular bullish div in the 4hr ac's @ the week just closed's 3000 lo.
* Dly downtrend still intact but there will now be a H (when it forms fractally) above it's last LH which is @ 3195. Friday's dly candle closed bullishly and was an upside resolution to Thursday's doji on the same t/f. Looking for point 4 to form as a fib ext of move 2-3 on this t/f in it's developing exp tri and if it does, will look for a point 5 as a fib ext or retrace of what may develop as move 3-4.
* Wkly downtrend is still intact and it's last LH is @ 3644 (the 5th consecutive LH on that t/f.) This said the wkly candle close was a bullish piercing pattern and in and of itself this is a bullish sign, but in the context of a downtrend. From the perspective of this t/f I should imagine that the longer-term bulls will be happier once a H above that aforementioned 3644 last LH is achieved, and until then it remains vulnerable to a 6th consecutive LH, particularly as from the 3180 wkly closing price it is a way off.
* Price has already traveled 102% of the 6mth amr so far this month, hi-lo.
* 3209-19 is the next 3 fib cluster to upside.
As always, price this coming week is @ the mercy of fundie/global-macro factors and of course the Ukraine/Russia thing looms large in those calculations. Other scheduled event risks include Fed Chair Powell speaking Monday, Uk Cpi etc Weds, with Boe Gvnr Bailey speaking, and Powell again on his feet, to say nothing of Uk Budget (' Spring Statement ') on same day. Thursday see's Uk & U.s services and manuf PMI's, and Fri - Uk Retail sales.
Dly and Wkly below.
* 1hr mixed/rangy to bullish
* 4hr 4 x consecutive HL's now and a HH, and if last week's hi is broken to the upside, what will be a 2nd HH. There is 'double regular bullish div in the 4hr ac's @ the week just closed's 3000 lo.
* Dly downtrend still intact but there will now be a H (when it forms fractally) above it's last LH which is @ 3195. Friday's dly candle closed bullishly and was an upside resolution to Thursday's doji on the same t/f. Looking for point 4 to form as a fib ext of move 2-3 on this t/f in it's developing exp tri and if it does, will look for a point 5 as a fib ext or retrace of what may develop as move 3-4.
* Wkly downtrend is still intact and it's last LH is @ 3644 (the 5th consecutive LH on that t/f.) This said the wkly candle close was a bullish piercing pattern and in and of itself this is a bullish sign, but in the context of a downtrend. From the perspective of this t/f I should imagine that the longer-term bulls will be happier once a H above that aforementioned 3644 last LH is achieved, and until then it remains vulnerable to a 6th consecutive LH, particularly as from the 3180 wkly closing price it is a way off.
* Price has already traveled 102% of the 6mth amr so far this month, hi-lo.
* 3209-19 is the next 3 fib cluster to upside.
As always, price this coming week is @ the mercy of fundie/global-macro factors and of course the Ukraine/Russia thing looms large in those calculations. Other scheduled event risks include Fed Chair Powell speaking Monday, Uk Cpi etc Weds, with Boe Gvnr Bailey speaking, and Powell again on his feet, to say nothing of Uk Budget (' Spring Statement ') on same day. Thursday see's Uk & U.s services and manuf PMI's, and Fri - Uk Retail sales.
Dly and Wkly below.
Attached Image(s) (click to enlarge)
Trader with an Edge.
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