All in the video. 4780-4800 was the area of interest because of the multiple Bollinger Bands, and the reversal as of now seems impulsive. Let's see how the numbers affect the market tomorrow at 8:30am.
Good Luck!
Good Luck!
Komen:
good morning, if it topped, this is probably part of the bounce. 830 numbers should make it go higher.
Komen:
target looks like 4750ish if this is an ABC. I expect more selling during the day.
Komen:
could go higher, but if it' an ABC, the C shouldn't get over 4760
Komen:
if today continues the impulse down (big IF), it should be a 3rd wave, very impulsive to around 4600. Not all in one day, but today may start it.
Komen:
the structure is clear, over and holding the upper trendline and it will likely make a new high. Under the lower and it probably starts going to 4600.
Komen:
there is this possibility which would imply a C into close and then gap down tomorrow, . Target would still be 4750-55 if this happens.
Komen:
they are holding this level, so a break below would be more significant. RSI is hinting at a rally since it's so low, so caution is warranted.
Komen:
it's going higher, the rsi being this low is a problem for bears. Over 4760 and they are going over 4800 for another high tomorrow.
Komen:
Komen:
they are getting over resistance, if it holds it's bullish and probably goes to 4800+
Komen:
4hr rsi looks like it wants to make a triple divergence.
Komen:
if (I emphasize IF) they continue moving up, here's another way to look at it. Good luck today!
Komen:
the overall pattern is starting to look like an ending diagonal, I will update this if it continues.
Komen:
resistance now broken should stay supportive. I expect higher.
Komen:
broke support, looks like it's coming down next week for Christmas. Will update on the weekend....!
Komen:
how the day ended, I think we'll go lower next week but I don't think we topped after this weeks price action. I will update this weekend.
