last week i saw what i interpretated as down trend in the monthly time frame which had stopped now. But i found that the right way to see this was that the price showed lh but not ll.
The price right now is in range between 63.70 and 51.50 this level being a really strong level and the current area of the price opening this week.
I've seen and its important to remark that this market actually had a strong bearish month however now that it has gotten to 51,50 the trend is getting weaker.
in a weekly time frame althoug its not pretty strong and it can be considered as range which i keep in mind, the price is building up a bullish structure plus is just about to cross with the trend line and has a strong confluence with a 61.8 fib level .
ive been expecting a rejection of this level so this week i will be paying attention to visible structural change in a 4-2 hours timeframe to get a long position till 56.50 which would be the next key level.
if the price actually continues the down trend there is also agoo oportunity to catch a short position
The price right now is in range between 63.70 and 51.50 this level being a really strong level and the current area of the price opening this week.
I've seen and its important to remark that this market actually had a strong bearish month however now that it has gotten to 51,50 the trend is getting weaker.
in a weekly time frame althoug its not pretty strong and it can be considered as range which i keep in mind, the price is building up a bullish structure plus is just about to cross with the trend line and has a strong confluence with a 61.8 fib level .
ive been expecting a rejection of this level so this week i will be paying attention to visible structural change in a 4-2 hours timeframe to get a long position till 56.50 which would be the next key level.
if the price actually continues the down trend there is also agoo oportunity to catch a short position