So, today, 01/26/2020, buyers were finally able to break the resistance of $ 8400-8440 and ma100, showing their strength and leaving the last word for themselves. A good signal is also the fact that they bought out the price of the straits without panic. Now you need to watch how the day closes, because there is a possibility that this is a "bull trap". The price is moving up extremely inactive, and, as before, I think that within the framework of the 4th wave we are in a difficult correction, therefore I recommend considering long positions only after fixing the level of $ 8760.
Let's switch to the time frame 1 day, the picture here is in favor of the sellers.
Firstly, I want to say right away that there is no “Cup with Handle” figure here. Yes, I do not argue, it is similar, but an uptrend is necessary for its identification. The bowl itself is a correction of the previous trend. Well, in general, one way or another, trading such figures, as I said, is only necessary after confirmation - that is, breaking through the neckline.
Secondly, globally, we are still trading in the downward channel, albeit locally in the upward channel. After today's impulse, the price jumped away from the channel median and joined ma50 (4h). Above showed areas of increased liquidity, which customers will be extremely difficult to pass. Based on all of the above, I believe that the correction has not yet ended, therefore I do not recommend categorically considering longs at the moment.
All successful bidding, my dear!
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