Interesting closing today and finally a green candle on a daily chart. So is this starting of a up trend again? is the downside over? In my opinion NO!! As mentioned in my previous idea it did find the support at the ichimoku base line (tenkan sen) and we have seen a bounce today from the same levels. But we did not see a confirmation yet for the upside we still saw and green hammer candle but to confirm the end of this retracement we need to have a close above 1905 tomorrow to confirm the correction is done.
Yes we can also see long wicks below the candle which shows good support area a confirmed and decisive close above 1905 will resume the rally in my opinion. The next target should be 1940 area once we have a confirmation. I am still bullish !
If this is informative hit like & follow to show your support :)
Yes we can also see long wicks below the candle which shows good support area a confirmed and decisive close above 1905 will resume the rally in my opinion. The next target should be 1940 area once we have a confirmation. I am still bullish !
If this is informative hit like & follow to show your support :)
Note
We had a good session today with good volumes and volatility. The closing above 1905 confirms that there is potential to go more on the upside and bulls are activated. Next stop is around 1940 area that is near term resistance. Once 1940 is taken the journey to 2025 will not be hard. Happy Trading :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.