REFER TO 4 HOUR CHART FOR MY OPINION:
PA has did a 100% Fib. Retracement from around 1300.00 to 1350.00. RSI is now at around 30 or oversold at this time. *NOTE: Watch out for "W Reversal Pattern" on RSI to happen, which means Bulls are in control. First resistance area noted on chart is around 1300.00 area & second resistance area on chart is around 1350.00. Will wait for a strong bullish reversal pattern to happen on 1 hour or above time frame charts (harami, engulfing or pinbar) to trade bulls.
Last two four hour candlesticks were DOJI, 1st one was red and last one of trading was green. Keep an eye on watch happens. Again, I will be looking for a strong reversal chart pattern, related to bearish trend being done.
PA has did a 100% Fib. Retracement from around 1300.00 to 1350.00. RSI is now at around 30 or oversold at this time. *NOTE: Watch out for "W Reversal Pattern" on RSI to happen, which means Bulls are in control. First resistance area noted on chart is around 1300.00 area & second resistance area on chart is around 1350.00. Will wait for a strong bullish reversal pattern to happen on 1 hour or above time frame charts (harami, engulfing or pinbar) to trade bulls.
Last two four hour candlesticks were DOJI, 1st one was red and last one of trading was green. Keep an eye on watch happens. Again, I will be looking for a strong reversal chart pattern, related to bearish trend being done.