Even though 7455 had every reason to hold, it didn't. The price reached our first buy zone and we have a bullish divergence on RSI and MACD.
Komen
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Falling wedge + bullish divergence on most of the time frames from H2 to H6.
Komen
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Unfortunately the wedge failed miserably. Now we are watching this downtrend channel and we are waiting for a decisive move.
Komen
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We could have a good buying opportunity at the green dot. If we get there RSI will have a bullish divergence on H2, H3, H4, H6. Price action and volume must be watched closely.
Komen
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Okei, so the price is "there", the timing is off but we are where we were expecting it. Now let's see if the bulls will show up.
Komen
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As we said earlier, the H3 H4 and H6 RSI and MACD have bullish divergences.
Komen
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Our buy zone is between 7290 and 7130 with a SL at 7100. If we fall under 7100 the chances of going to 6850 will be so high that we will short it right away.