So this week what are we looking for. We want to see that hold, potentially we’re looking at a drop in the price towards the 1790-95 region where we have an Excalibur target and then we’re looking for the price to resume the momentum towards the 1820+ price points. We won’t be shorting into that lower level unless we get an Excalibur indication tomorrow, rather we will wait for the price to find support at the mentioned level and then test the long to higher pricing. The difficulty here is that the price will need to break that 1812 level to go higher, if and once it does we’re going to enter a supply area where we would suggest caution.
We will wait for the early sessions. Look for the price to challenge the lower support areas first of 1802, then 1795 and after that a deeper support of 1790. These for us will represent price points to test the long trades towards higher pricing. IF, during the course of the week we reach the levels of 1826 and 1843 we will be looking to take a short for lower targets unless this breaks up and holds above 1850.
We can only plan so much while the market is closed. As usual we will re-assess and analyse the markets again once they're open and then look for our entries. As always we’ll share these with you.
Below is the 1hr chart which should give you a clearer idea of what we're looking for in the coming sessions.
Its a brief one this week as not much has changed in our analysis over the last couple of weeks. We're sticking with the plan so far.
Your likes, comments and shares are very much appreciated.
As always, trade safe.
Thank you so much