Crazy, crazy market. But bullish. Hate bears, they are blind - imho. The level of $9200 - $9350 is holding the price, but the breakdown of one will be bad for market. Important - downward spike is ok, fixation below $9200 is truly bad.
We need to remember about GAP on the CME. Its downward border is located at the ±8750 level. More likely we will see the price there at this week. Moreover, there is located the important horizontal level of the descending channel which we need to re-test. Therefore, the overall trend is bullish, that's what we need to keep in mind.
If the price consolidates above the $9350 level for a long time, we can start gaining LONG position even there and place additional buy orders in the $8500 - $8700 range. The breakout of the ascending resistance will lead to another pump where $16000 will seem very realistic.
We need to remember about GAP on the CME. Its downward border is located at the ±8750 level. More likely we will see the price there at this week. Moreover, there is located the important horizontal level of the descending channel which we need to re-test. Therefore, the overall trend is bullish, that's what we need to keep in mind.
If the price consolidates above the $9350 level for a long time, we can start gaining LONG position even there and place additional buy orders in the $8500 - $8700 range. The breakout of the ascending resistance will lead to another pump where $16000 will seem very realistic.
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Email:
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