1. Yesterday's model held on all the day and most of predictions had been successfully achieved.
2. The prices penetrate the $111.xx level and finds its way easily to the $115.xx level where I expected a battle between bears and bulls at this region. The battle ended by closing price $114.95 (approx. to $115.00).
3. Since corrections had been done at the upper limit of correction zone (around $108.6x) as well as bulls strengthened their power to push the price upwards to the said levels, the value of target levels have been changed consequently which will be discussed in the below point.
4. The first target (starting point) @ 38.2% level ($114.8x) which will be easily break with good chance for prices to move up and catch the second target @ 50% level ($117.4x).
5. The 50% level will give an intermediate resistance as bulls will try to push the price to the target level @ 61.8% level ($120.xx) quickly before the day closure. This is the main target of bulls as they hope to perform a new HH level.
6. The intersection between RSI & RSI-EMA10 is a sign of overbought and trader must take a quick selling action to collect the maximum profit.
7. Failing of bulls to push up the prices, at any target level, means that they decide to take a break where prices will drop down to make correction between $109.9x and $106.4x before starting the uptrend journey which may take another 48-hrs to achieve the main target.
8. The minimum stop loss in case of down trending to be greater than $111.xx.
9. The overall day expectation will be upper trend of prices till reaching the main target @ $120.00.
Tools used in analysis are FB pattern, RSI indicator, BB indicator, ZigZag++ indicator, and MA50.
2. The prices penetrate the $111.xx level and finds its way easily to the $115.xx level where I expected a battle between bears and bulls at this region. The battle ended by closing price $114.95 (approx. to $115.00).
3. Since corrections had been done at the upper limit of correction zone (around $108.6x) as well as bulls strengthened their power to push the price upwards to the said levels, the value of target levels have been changed consequently which will be discussed in the below point.
4. The first target (starting point) @ 38.2% level ($114.8x) which will be easily break with good chance for prices to move up and catch the second target @ 50% level ($117.4x).
5. The 50% level will give an intermediate resistance as bulls will try to push the price to the target level @ 61.8% level ($120.xx) quickly before the day closure. This is the main target of bulls as they hope to perform a new HH level.
6. The intersection between RSI & RSI-EMA10 is a sign of overbought and trader must take a quick selling action to collect the maximum profit.
7. Failing of bulls to push up the prices, at any target level, means that they decide to take a break where prices will drop down to make correction between $109.9x and $106.4x before starting the uptrend journey which may take another 48-hrs to achieve the main target.
8. The minimum stop loss in case of down trending to be greater than $111.xx.
9. The overall day expectation will be upper trend of prices till reaching the main target @ $120.00.
Tools used in analysis are FB pattern, RSI indicator, BB indicator, ZigZag++ indicator, and MA50.