BUILDING THE LEG TO MOVE HIGHER
In the previous analysis entitled "An Effort to Break the $ 1375 Scenario (Part # 1)" , I had estimated in scenario #2 that $1375 tended to be conquered by bulls in 2019, as long as End of May 2019 prices can remain above $1260 and finally bulls can conquer $1375 Bear Market Wall and bring prices to the level of $1439 before Q2-2019 ends.
Now The Question Is Whether This Conquest Is Valid Or Not ?
In my technical view, based on Closing Prices Above $1375 For 3 Consecutive Weeks Since It Recorded $1439 High, In General It Has Signaled That The Breakout Is Valid. Only if it closes below $1375, will structurally cancel further increases, because the bulls must be able to maintain $1375/80 up to End of July 2019.
If the Bull can maintain $1375/80, then based on the above Time Chart Approach, prices will continue to rise until Sept 2019, but if prices can be closed below $1375, it is estimated that prices will decline until Sept 2019 and may continue until Dec 2019. I see that the closest price movement pattern for now is the pattern on labels 5.1, 2 and 3.
Jul 29, 2019 is a very important week to start the next price movement.
ooOoo From The Desk Of NewBie ooOoo
In the previous analysis entitled "An Effort to Break the $ 1375 Scenario (Part # 1)" , I had estimated in scenario #2 that $1375 tended to be conquered by bulls in 2019, as long as End of May 2019 prices can remain above $1260 and finally bulls can conquer $1375 Bear Market Wall and bring prices to the level of $1439 before Q2-2019 ends.
Now The Question Is Whether This Conquest Is Valid Or Not ?
In my technical view, based on Closing Prices Above $1375 For 3 Consecutive Weeks Since It Recorded $1439 High, In General It Has Signaled That The Breakout Is Valid. Only if it closes below $1375, will structurally cancel further increases, because the bulls must be able to maintain $1375/80 up to End of July 2019.
If the Bull can maintain $1375/80, then based on the above Time Chart Approach, prices will continue to rise until Sept 2019, but if prices can be closed below $1375, it is estimated that prices will decline until Sept 2019 and may continue until Dec 2019. I see that the closest price movement pattern for now is the pattern on labels 5.1, 2 and 3.
Jul 29, 2019 is a very important week to start the next price movement.
ooOoo From The Desk Of NewBie ooOoo
