Volatility seen yesterday inside the triangle pattern; indeed after having been under selling pressure,
test of the triangle support line, which finally hold and trigger a nice rebound, in breaking on the upside in
reaching a high so far of 14'905, filling on its way up the 50% Fibonacci retracenent @ 14'883 of the former leg down from
15'399 to 14'367.
The ETCUSD is also facing its first significant resistance (Tenkan-Sen & conversion line) which coincides with the bottom of the daily
clouds resistance too...Watch also the lagging line, which, for the time being, managed to recover above the clouds.
Slightly above there is the 61.8% Fib ret ƒ 15'005 ahead of MBB @ 15'065 (good leading indicator, as already mentioned on many occasions in my technical analysis)
CONCLUSION :
Watch, on a daily closing basis the following levels :
ON THE UPSIDE : 15'065
ON THE DOWNSIDE : 14'750
And last but not least, monitor closely shorter time frames...
Ironman8848
test of the triangle support line, which finally hold and trigger a nice rebound, in breaking on the upside in
reaching a high so far of 14'905, filling on its way up the 50% Fibonacci retracenent @ 14'883 of the former leg down from
15'399 to 14'367.
The ETCUSD is also facing its first significant resistance (Tenkan-Sen & conversion line) which coincides with the bottom of the daily
clouds resistance too...Watch also the lagging line, which, for the time being, managed to recover above the clouds.
Slightly above there is the 61.8% Fib ret ƒ 15'005 ahead of MBB @ 15'065 (good leading indicator, as already mentioned on many occasions in my technical analysis)
CONCLUSION :
Watch, on a daily closing basis the following levels :
ON THE UPSIDE : 15'065
ON THE DOWNSIDE : 14'750
And last but not least, monitor closely shorter time frames...
Ironman8848
