We briefly moved above our 11,220 resistance line I called out weeks ago. While we did fall below it soon afterward, it acted as a resistance three different times before giving in. That's a bullish sign.
Short term (next 12 hrs) I expect another dip. But I think we'll make another run at 11,220 pretty soon. It make take another few tries, but we should see it turn back into a support within the next few days.
After that the next resistance is 11,686 followed by 12.790.
1hr is bearish. WMA has crossed both EMA and SMA. RSI shows room to fall.
4hr is mildly bearish. SMA EMA cross, but not a strong movement.
1d is about to become bullish starting tomorrow. EMA is touching SMA and RSI is in the top half with plenty of room to grow.
TL;DR I expect a short drop followed by another rally. We'll make a few tries at 11,220 and then we should see a run against 11,686 by the end of the week.
Short term (next 12 hrs) I expect another dip. But I think we'll make another run at 11,220 pretty soon. It make take another few tries, but we should see it turn back into a support within the next few days.
After that the next resistance is 11,686 followed by 12.790.
1hr is bearish. WMA has crossed both EMA and SMA. RSI shows room to fall.
4hr is mildly bearish. SMA EMA cross, but not a strong movement.
1d is about to become bullish starting tomorrow. EMA is touching SMA and RSI is in the top half with plenty of room to grow.
TL;DR I expect a short drop followed by another rally. We'll make a few tries at 11,220 and then we should see a run against 11,686 by the end of the week.
Comment:
A few tries and we're above 11,220 again. We've definitively confirmed it as a resistance point, and so it should turn into a support now.
Comment:
We're retesting 11,220 again. I'm optimistic it'll hold. If it does then expect us to make another run at 11,686 directly afterward.