Happy new trading week to everyone!
What do we see in the early hours of the Monday morning?
I still want to look at this setup as a flag.
We saw a logical red candle on Friday, which allowed us to move a little bit away from the overbought zone.
What should we expect from the market this week?
At this point, I would pay attention to several markers:
1) The upper channel border.
2) The 385-390 zone, as support for staying bullish .
3) Being above 50EMA as an additional sign of strength.
I am more expecting a pullback to the 385-390 zone, after which we will get stronger to go up and already after that to get above 50EMA.
What do we see in the early hours of the Monday morning?
I still want to look at this setup as a flag.
We saw a logical red candle on Friday, which allowed us to move a little bit away from the overbought zone.
What should we expect from the market this week?
At this point, I would pay attention to several markers:
1) The upper channel border.
2) The 385-390 zone, as support for staying bullish .
3) Being above 50EMA as an additional sign of strength.
I am more expecting a pullback to the 385-390 zone, after which we will get stronger to go up and already after that to get above 50EMA.