Looking at the weekly chart we can see an area of failed consolidation in the form of a double bottom. The second dip failed to break below the low point of the first, and we have been on an upward drift since. The market has been in a euphoric state for a while now and caution is advised.
Historically, every time we have approached a major $100 price point it has had a pullback or complete rejection for the near future.
The MACD is also growing quiet at very high levels gathering strength for a major move.
On lower time frames, we are slowly breaking through the smaller moving averages as well.
At least for the near term we can expect a minor pullback to the 25 EMA and take another look from there.
Historically, every time we have approached a major $100 price point it has had a pullback or complete rejection for the near future.
The MACD is also growing quiet at very high levels gathering strength for a major move.
On lower time frames, we are slowly breaking through the smaller moving averages as well.
At least for the near term we can expect a minor pullback to the 25 EMA and take another look from there.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.