More downside to come - TARGET 0.6475
Telah dikemas kini
Given it's end of month...it's time to turn our attention to the long term monthly price chart.
Yes, there is an upside looming around, clearly with a MACD divergence in formation.
However, the upside swing, I believe, isn't ready as
the shorter time frames periods continue to break thru their support levels.
An A, B, C pattern clearly has the AUD 0.6475 =61.8% fib level.
Only when this support level is completed will we see the begining of an upside swing.
Yes, there is an upside looming around, clearly with a MACD divergence in formation.
However, the upside swing, I believe, isn't ready as
the shorter time frames periods continue to break thru their support levels.
An A, B, C pattern clearly has the AUD 0.6475 =61.8% fib level.
Only when this support level is completed will we see the begining of an upside swing.
Dagangan ditutup: sasaran tercapai
Now that we're into the start of a new month, we see monthly 61.8% support making contact & holding so far. More importantly however, a clear divergence on the MACD coinciding with 61.8% level.Time for LONG positions, but be careful of the whipsaws - watch towards the smaller time frames for oversold conditions in order to maximise your profits.
Penafian
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