1. Last trade closed @ $98.40 with two reversal candles in the bearing (red) direction. This is not a strong evidence for prediction but may give an idea of how the market will move in the normal condition.
2. On the RSI indicator, the price tends to make a minor down drop below the 50% level till further intersection (at least) with RSI-EMA10 curve where bulls will start being active to buy. Traders will look for safe point to enter as they are still not trusting the market behavior due to undetermined political news and military reports coming from east Europe. If Ukrainians meet with Russians as planned and resulting good news, then this would give some trust for traders to trust the market without skepticism.
3. The market will test the zone between 50% and 61.8% levels @ $98.6x prices over the neck line constructed from the H&S pattern.
4. In case of lower trend, then on the normal cases the market would search to perform a HL point around $96.9x (38.2% level on Fib pattern) which can represent a stop loss point for already bought traders.
5. Breaking the $98.95 prices will lead prices to retest again in an external resistant line @ $99.7x which a good chance to exist this boundary in the direction of start limit of red resistant zone.
6. In the up trend case, the prices will move to hit the first target around $100.76 price level to perform a HL point.
7. In unusual cases, the price may continue to hit the top of the resistant zone @ 161.8% level on Fib pattern to cross over the $103.6x which is very optimistic w.r.t the moment circumstances. In this case a new HH point may be created.
Tools used for analysis are Fib pattern, RSI indicator, ZigZag ++ indicator, and H&S technique.
2. On the RSI indicator, the price tends to make a minor down drop below the 50% level till further intersection (at least) with RSI-EMA10 curve where bulls will start being active to buy. Traders will look for safe point to enter as they are still not trusting the market behavior due to undetermined political news and military reports coming from east Europe. If Ukrainians meet with Russians as planned and resulting good news, then this would give some trust for traders to trust the market without skepticism.
3. The market will test the zone between 50% and 61.8% levels @ $98.6x prices over the neck line constructed from the H&S pattern.
4. In case of lower trend, then on the normal cases the market would search to perform a HL point around $96.9x (38.2% level on Fib pattern) which can represent a stop loss point for already bought traders.
5. Breaking the $98.95 prices will lead prices to retest again in an external resistant line @ $99.7x which a good chance to exist this boundary in the direction of start limit of red resistant zone.
6. In the up trend case, the prices will move to hit the first target around $100.76 price level to perform a HL point.
7. In unusual cases, the price may continue to hit the top of the resistant zone @ 161.8% level on Fib pattern to cross over the $103.6x which is very optimistic w.r.t the moment circumstances. In this case a new HH point may be created.
Tools used for analysis are Fib pattern, RSI indicator, ZigZag ++ indicator, and H&S technique.
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