BCOUSD is approaching our first resistance at 70.94 (horizontal pullback resistance, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 68.48 (50% Fibonacci retracement, horizontal pullback support). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in...
BCOUSD is approaching our first resistance at 68.73 (horizontal swing high resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 66.34 (horizontal swing low support, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might...
BCOUSD is approaching our first resistance at 68.737 where we might see a corresponding drop in price to our first support at 66.345. Stochastic is also approaching resistance where we might see a corresponding drop in price.
Key level to look out for, please refer to our 4 hour chart for a strategic view!
We have good pattern to sell BCO. 1 - we have good sell impulse movement 25 february 2 - we have good correction with 6 higher highs. 3 - we have good flat from 27.02 to 1.03 One problem - today is friday so you can catch gap at monday. But position to sell is my prefered. So lets try to catch profit right now. Sell at 65.80. SL - 66.88 TP1 - 63.65 and...
Why to short? 4H RSI divergence. 4H,1D MACD Divergence 4H,1D H&S
BCOUSD reversed nicely off its resistance at 78.43 (61.8% Fibonacci retracement, horizontal overlap resistance) where price could potentially drop further to its major support at 76.38 (61.8% Fibonacci retracement, horizontal pullback support). RSI (55) has made a bearish exit from its ascending support turned resistance line which contributes to our bearish...