Hi there,
On the chart you see my perspective of the current daily situation.
I believe we are building an ascending triangle which is a bullish pattern.
Its likely 820 will be tested again and maybe even the area of 850 will be hit.
We will then either break through and complete the daily head & shoulders pattern
or we will go down and probably start forming an ascending triangle.
The 61.8% fib retracements proves reliable time and time again on any timeframe
so this is a likely area for price to find its PRZ.(price reversal zone)
Cheers
On the chart you see my perspective of the current daily situation.
I believe we are building an ascending triangle which is a bullish pattern.
Its likely 820 will be tested again and maybe even the area of 850 will be hit.
We will then either break through and complete the daily head & shoulders pattern
or we will go down and probably start forming an ascending triangle.
The 61.8% fib retracements proves reliable time and time again on any timeframe
so this is a likely area for price to find its PRZ.(price reversal zone)
Cheers
