Requested by @WealthHustler (Commented on one of my previous posts):
Looking on a Weekly timeframe, we have bounced of the previous High (which was untested before) + bounced into the last SUPPLY zone.
Currently rejecting it, but will have to wait for the weekly candleclosure.
As long as we can stay between the 2 marked horizontal lines, things are neutral, but would be favoring short term bullishness if we can make a set of Higher Lows + Higher highs on lower timeframes.
Bearish --> looking at the DEMAND zone just below this support.
Bullish --> looking at the SUPPLY zone + diagonal trendline to break.
Will keep this thread updated.
Oli
(Like & Follow for more free analysis.)
Looking on a Weekly timeframe, we have bounced of the previous High (which was untested before) + bounced into the last SUPPLY zone.
Currently rejecting it, but will have to wait for the weekly candleclosure.
As long as we can stay between the 2 marked horizontal lines, things are neutral, but would be favoring short term bullishness if we can make a set of Higher Lows + Higher highs on lower timeframes.
Bearish --> looking at the DEMAND zone just below this support.
Bullish --> looking at the SUPPLY zone + diagonal trendline to break.
Will keep this thread updated.
Oli
(Like & Follow for more free analysis.)