Again looking at the hourly chart. Volatility has been high lately, as can be expected with the past market movements.
The orange trend line is what I'm calling a support of some what, if we drop below this line a large fall back to 7000 mark can be expected. I'm going to call it a confirmed uptrend once we cross through the yellow down trend line around the 7600 mark around the 02JUN18. MACD is showing signs of a golden cross shortly which will give some more bullish momentum.
Like always I'm by far a professional trader and not a Financial Advisor. Under no circumstances take this as financial advice.
I'm only new to technical analysis and I'm open to other ideas that I may have missed. In advance Thank you!
IRApTOIR out.
The orange trend line is what I'm calling a support of some what, if we drop below this line a large fall back to 7000 mark can be expected. I'm going to call it a confirmed uptrend once we cross through the yellow down trend line around the 7600 mark around the 02JUN18. MACD is showing signs of a golden cross shortly which will give some more bullish momentum.
Like always I'm by far a professional trader and not a Financial Advisor. Under no circumstances take this as financial advice.
I'm only new to technical analysis and I'm open to other ideas that I may have missed. In advance Thank you!
IRApTOIR out.