H4 : Potential double top formation in progress coupled with a potential RSI bearish divergence also in progress.
Recent price is showing a sideways 56'500-58'550 trading range, holding on both Mid Bollinger Band and ongoing
uptrend channel base support line.
The former high @ 58'549, has, so far, not been retested yet, high being 58'315 (las long white bullish candle).
Nevertheless, some tolerance could be accepted and early signals of a potential double top coupled with a RSI bearish divergence
should not be underestimated !
On this H4 time frame, watch the following levels :
UPSIDE :
R1 : 58'549
R2 : 60'000
R3 : 61'075
R4 : 64'895
DOWNSIDE :
S1 : 57'190
S2 : 56'900
S3 : 56'500
S4 : 55'465
Watch H1 for clues
Ironman8848
Recent price is showing a sideways 56'500-58'550 trading range, holding on both Mid Bollinger Band and ongoing
uptrend channel base support line.
The former high @ 58'549, has, so far, not been retested yet, high being 58'315 (las long white bullish candle).
Nevertheless, some tolerance could be accepted and early signals of a potential double top coupled with a RSI bearish divergence
should not be underestimated !
On this H4 time frame, watch the following levels :
UPSIDE :
R1 : 58'549
R2 : 60'000
R3 : 61'075
R4 : 64'895
DOWNSIDE :
S1 : 57'190
S2 : 56'900
S3 : 56'500
S4 : 55'465
Watch H1 for clues
Ironman8848
