A bullish pennant has formed.
Indicators offer conflicting signals, a sign of consolidation:
- Stoch is oversold
- RSI has a bullish divergence
- MACD has crossed bearish but not at a steep angle
- CCI is gently sloping down showing a possible bounce
2 possible scenario:
Bullish, we will retest and most likely exceed ATH with a short term target to 8200 dollars and an increase of about 6/8% on breakout
Bearish, we will retrace initially to the 7400 area and if it holds re-establish in a consolidation pattern. A retrace to lower at the moment is unlikely.
Trade safe.
Indicators offer conflicting signals, a sign of consolidation:
- Stoch is oversold
- RSI has a bullish divergence
- MACD has crossed bearish but not at a steep angle
- CCI is gently sloping down showing a possible bounce
2 possible scenario:
Bullish, we will retest and most likely exceed ATH with a short term target to 8200 dollars and an increase of about 6/8% on breakout
Bearish, we will retrace initially to the 7400 area and if it holds re-establish in a consolidation pattern. A retrace to lower at the moment is unlikely.
Trade safe.
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