Has The Bull Run Started Or Just A tease before the BREAKDOWN ??
After Constantly getting rejected by the Ema 21 line (orange) , finally the move happened into the market
we are just touching the descending resistance (white line) , with a ema55(yellow line) resistance hovering at the top of it is actually a strong resistance ,, the volume is very low clearly shows big peoples yet not interested to take a action
BULLISH CASE
case 1.1 - if the daily closes above 6480 , theres not much stoppage for the test of 6800 the horizontal resistance , which is the divident between the bull market and the current downtrend , we have some resistance at 6600 area too below the 6800 ,,
case 1.2 -- if we get a daily close above 6800 with some HEAVY VOLUME it will be almost a certainty to test the 7400 and higher , ill update on that
BEARISH CASE
case 1.1 -- since the volume is not so heavy which can easily turn out in a fakeout ,, we have to assume if the daily closes below 21Ema line again , i am pretty sure it will result in a big fakeout , and we will be due for a test again of those 6.1k
end line if bears break 6300 , surely we will see some real volume dumps
Since the vision is yet not clear right now , and theres a famous quote -- wheres the vision is not clear theres no hope , so yes we dont have a clear direction right now
we are just touching the descending resistance (white line) , with a ema55(yellow line) resistance hovering at the top of it is actually a strong resistance ,, the volume is very low clearly shows big peoples yet not interested to take a action
BULLISH CASE
case 1.1 - if the daily closes above 6480 , theres not much stoppage for the test of 6800 the horizontal resistance , which is the divident between the bull market and the current downtrend , we have some resistance at 6600 area too below the 6800 ,,
case 1.2 -- if we get a daily close above 6800 with some HEAVY VOLUME it will be almost a certainty to test the 7400 and higher , ill update on that
BEARISH CASE
case 1.1 -- since the volume is not so heavy which can easily turn out in a fakeout ,, we have to assume if the daily closes below 21Ema line again , i am pretty sure it will result in a big fakeout , and we will be due for a test again of those 6.1k
end line if bears break 6300 , surely we will see some real volume dumps
Since the vision is yet not clear right now , and theres a famous quote -- wheres the vision is not clear theres no hope , so yes we dont have a clear direction right now
Penafian
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