Weekly. high volatile during all chart From the 2nd Half of 2016 Volumes increased. Major uptrend started from August of 2017 after remarkable declining. No Divergence on volumes = trend does not waste power completely. No divergence on RSI. Resistance level is unclear. On RSI clear bullish trend. Did not cross level of 50 - confirmation of having power. Above 100 SMA
Daily The price approached level of 1720 - supportive, it has to be tested for breakdown after gap. + near SMA 100. On RSI , strond uptrend seems to lost some steam, jumps lower than 50 on RSI No volume changes = trend not so active., but exists. I see harami candlestick - sign of uncertainty. BB shows good power of uptrends. No sign of nearest reversals, just correction Considering trends on RSI, its clear for me - they became shorter, frequency slightly reduced, however the angle still same. Using that i expect the rest of price for a moment. Elliot correction of ABC is ongoing = rest. The lenght of rest zone = 1,5-2 intervals, When rest zone is ended that will be the 3 uptrend aimed to test 2000 level. Finally, the critical point foe me is how the price will act after star. Do not want to go for some super long term bets. For now, it is better to short due to rest of market, and work in elliot correction B-C I propose open short with SL 1955 and TP 1720. RR 1.23
But in whole picture on W, seems that SuperCycle of Uptrend lowers, and probably the chart will finish formashion of head and shoulders and then goes to 2000
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The short from 1845 has been open. SL 1955 and TP 1720. RR 1.23