BULL PENNANT FORMING
Updated
A bull pennant is forming. Looking at levels of resistance and support will help you set your trade.
>Move up:
-If we move pass the 4040-4070 level I expect an initial move up to 4150 potentially continuing up to 4250
>Move down:
-If we brake below the 3886-3831 level I expect an initial move down to the 38.3 fib and potentially 50 fib retracement level.
INDICATORS
VI: next cross up will indicate a bull momentum especially V- has precedently reached extreme lows.
RSI: still has room to go based on VI
>>>Always Mind Your Trades and make sure to make your own analysis before investing your hard earned money. I am not a financial advisor and this represents only my own ideas on the market.
>Move up:
-If we move pass the 4040-4070 level I expect an initial move up to 4150 potentially continuing up to 4250
>Move down:
-If we brake below the 3886-3831 level I expect an initial move down to the 38.3 fib and potentially 50 fib retracement level.
INDICATORS
VI: next cross up will indicate a bull momentum especially V- has precedently reached extreme lows.
RSI: still has room to go based on VI
>>>Always Mind Your Trades and make sure to make your own analysis before investing your hard earned money. I am not a financial advisor and this represents only my own ideas on the market.
Trade closed: target reached
Both initial up target and 38.2 fib retracement were hit. Trade safe
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