update from last post:
bigger rising wedge stood as resistance or most of this weekend, rejected 4 times and once we broke back in the volume wasn't there to push us much higher leading to a rejection and you could see bulls were getting weaker.
my key support line 3837 held lovely but after several retests once we broke i knew more downside was on the cards and thats what we have seen.
so far my support has held the 2 yellow lines are proving to be very good ling entries and I am in a long myself at the moment and I am actually extremely bullish. the RSI has bottomed on the 1hr chart, we have seen a volume supported wick up and now seeing nice momentum toward the upside, we also have to at least come up and retest my support line before confirming bearish continuation AND THE CME GAP!!!!
My green price target is the CME gap which has not been filled and usually does every time. I am not saying its certain but if price comes back down to grab the liquidity at my yellow lines buy buy buy.
bigger rising wedge stood as resistance or most of this weekend, rejected 4 times and once we broke back in the volume wasn't there to push us much higher leading to a rejection and you could see bulls were getting weaker.
my key support line 3837 held lovely but after several retests once we broke i knew more downside was on the cards and thats what we have seen.
so far my support has held the 2 yellow lines are proving to be very good ling entries and I am in a long myself at the moment and I am actually extremely bullish. the RSI has bottomed on the 1hr chart, we have seen a volume supported wick up and now seeing nice momentum toward the upside, we also have to at least come up and retest my support line before confirming bearish continuation AND THE CME GAP!!!!
My green price target is the CME gap which has not been filled and usually does every time. I am not saying its certain but if price comes back down to grab the liquidity at my yellow lines buy buy buy.
