I will continue my updates here, since many don’t like to scroll through my many updates. You all know my thoughts, assuming we won’t see a break of the 3950/3600 since a week ago. We are still moving inside of it, even though we are seeing an attempt to break up, the is very low. On the right we see a green , if that one breaks, we can drop or go sideways again. On the left we can see a higher low pattern, but it will only get confirmed if the 3950ish breaks. Above that resistance we still have to break the 4100ish. A touch of 4200 would be a very signs.
We have seen these kind of setups many times the past half year, of which most have of them failed. But those were all above the 6K, so it could be different this time. But the is very weak though, which is similar to previous attempts.
So we need to watch the green zone on the right, if that one holds AND we see increase on the potential break up, things can work out. I assumed we would not see a real movement until Monday or at the earliest Saturday night, but who knows, maybe the market is impatient. is slightly higher than yesterday, but still below the 1bil on , i want to see at least 1.5b for a real breakout.
If this plays out, the original plan from the 3200 levels will still be in play. Meaning wave C up is starting now. But like 2 days ago, bulls need to keep momentum and not loose the green support as they did then.
Previous analysis:
Published at Sat, 05 Jan 2019 02:33:54 +0000
