As posted yesterday the price revisited the 1320 area today. The reasons I see as an outsider go from profit taken to make up for other losses (such as Bitcoin), Portfolio balancing as stock markets are soaring or just a battle between Bulls & Bears trying to establish direction, whatever it is I suggest reviewing previous post and taking a look at this charts.
Chart # 1: Hourly Supertrend was broken to the upside yesterday and needs to hold above 1323 to prevent the price from falling further.
Chart # 2: Daily close must be above 1317 otherwise the market will turn bearish short term.
Chart # 3: Weekly historical chart that shows how uncertain a prediction can be in high volatility scenarios. In this chart (2016) the price went from 1358 down to 1320 and then up to 1337 to turn down to 1310 and then up to 1374 to then reverse to 1313 and reverse again up to 1366 to then sell off down to 1130. Crazy, is it not? but that´s how it works, it is said that when volatility is that high a change of trend can be expected at the very end of the cycle.
Chart # 1: Hourly Supertrend was broken to the upside yesterday and needs to hold above 1323 to prevent the price from falling further.
Chart # 2: Daily close must be above 1317 otherwise the market will turn bearish short term.
Chart # 3: Weekly historical chart that shows how uncertain a prediction can be in high volatility scenarios. In this chart (2016) the price went from 1358 down to 1320 and then up to 1337 to turn down to 1310 and then up to 1374 to then reverse to 1313 and reverse again up to 1366 to then sell off down to 1130. Crazy, is it not? but that´s how it works, it is said that when volatility is that high a change of trend can be expected at the very end of the cycle.
Thanks for all the info and your help as always .
ReplyDeleteThank you Cesar !
ReplyDeleteThank you very much mr. Cesar
ReplyDeletethanks for the guidance sir cesato
ReplyDelete