H1 : Last H1 candle triggered a doji pattern on a closing basis.
Recent price action failed to breakout the ongoing downtrend channel
which is still valid.
Watch former high @ 52750 as resistance level to break
M15 : As mentioned earlier in my previous M5/M15 analysis, a potential
double top formation is in progress (not confirmed yet, trigger level
being @ 51715
SCENARIOS :
BULLISH
Breakout confirmed by at least 2 closing above 52750 would open the door
for a new trading range from 52750 to 55000
NEUTRAL
Continuation of the recent sideways price action (51715-52785)
BEARISH
Double top trigger level activated opening the door for a target @ 50680
Such kind of price action would trigger a test of the former resistance (purple line)
and also the M15 clouds support zone
Recent price action failed to breakout the ongoing downtrend channel
which is still valid.
Watch former high @ 52750 as resistance level to break
M15 : As mentioned earlier in my previous M5/M15 analysis, a potential
double top formation is in progress (not confirmed yet, trigger level
being @ 51715
SCENARIOS :
BULLISH
Breakout confirmed by at least 2 closing above 52750 would open the door
for a new trading range from 52750 to 55000
NEUTRAL
Continuation of the recent sideways price action (51715-52785)
BEARISH
Double top trigger level activated opening the door for a target @ 50680
Such kind of price action would trigger a test of the former resistance (purple line)
and also the M15 clouds support zone
