Hello Traders,
since the possible wave 4 low, N50 has risen to 15899.50 on Friday, where it found resistance as to see at the hourly and daily chart.
It needs a break of these levels to rise to new high's again. The area at 16110 is still a good area for this scenario!
The move from 15578 look like a „five-up“ and it could retrace a good portion of this move. A good level would be around the 15700 area.
A break of the lows at 15582 would open the door to 15450 area with more bearish potential ahead!
The uptrend for N50 is still underway, and it needs a break off the 13500 area to re-adjust the bullish chart!
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
since the possible wave 4 low, N50 has risen to 15899.50 on Friday, where it found resistance as to see at the hourly and daily chart.
It needs a break of these levels to rise to new high's again. The area at 16110 is still a good area for this scenario!
The move from 15578 look like a „five-up“ and it could retrace a good portion of this move. A good level would be around the 15700 area.
A break of the lows at 15582 would open the door to 15450 area with more bearish potential ahead!
The uptrend for N50 is still underway, and it needs a break off the 13500 area to re-adjust the bullish chart!
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!