Key resistance retest forecast
Presented is the 4 hr chart. I mapped out the first key resistance with the previous resistance breach (which now is an established support).
MACD/SIGNAL made a cross while above 0 line. RSI is breaching overbought zone. Current RSI pattern tells us a pivot is near however we have not seen these levels for a bit so a change in pattern (breaching further into overbought zone) may be in play. I will pay close attention to RSI play out to determine my pivot point.
Stopmloss below new support and take profits as presented on chart while watching for a pivot.
Please comment with thoughts and ideas. Thank you.
MACD/SIGNAL made a cross while above 0 line. RSI is breaching overbought zone. Current RSI pattern tells us a pivot is near however we have not seen these levels for a bit so a change in pattern (breaching further into overbought zone) may be in play. I will pay close attention to RSI play out to determine my pivot point.
Stopmloss below new support and take profits as presented on chart while watching for a pivot.
Please comment with thoughts and ideas. Thank you.
Penafian
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