4H CHART EXPLANATION:
Last week we posted this chart when the downside move was starting, and the potential target was 100. Effectively, it was reached, and now price is on a confluence zone between the support zone and the ascending trendline. As this is a strong level, a new bullish impulse can start here, towards the previous Max. level at 140 on average. However, some confirmation is needed before taking positions, since the trend at this moment remains bearish.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
Last week we posted this chart when the downside move was starting, and the potential target was 100. Effectively, it was reached, and now price is on a confluence zone between the support zone and the ascending trendline. As this is a strong level, a new bullish impulse can start here, towards the previous Max. level at 140 on average. However, some confirmation is needed before taking positions, since the trend at this moment remains bearish.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
