Still long: but we must wait for a clear entry signal
Good morning guys!!
In my last chart published on Friday, I gave a closing price level above which it was possible enter long: 71.20. Prices rebounded just above, at 71.63 (ema 7 + ema 14), and then closed at 70.49: short continuation.
Yesterday the prices continued to fall heavily, breaking the black trendline and closing just above the ema 100.
There are three very important levels of support left: 67.25 - 66.40 - 65.15. Under these levels we may have a daily trend inversion.
So my operation remains the same: flat waiting for an entry signal.
Do not forget that we are at the end of the cycle: prices could rebound from this area and then start to rise again. Moreover the oscillators are in strong divergence on the H1 H4 and daily timeframe.
I conclude: long until proven otherwise, but we must wait for a clear entry signal.
See you later for intraday updates
Have a nice day
In my last chart published on Friday, I gave a closing price level above which it was possible enter long: 71.20. Prices rebounded just above, at 71.63 (ema 7 + ema 14), and then closed at 70.49: short continuation.
Yesterday the prices continued to fall heavily, breaking the black trendline and closing just above the ema 100.
There are three very important levels of support left: 67.25 - 66.40 - 65.15. Under these levels we may have a daily trend inversion.
So my operation remains the same: flat waiting for an entry signal.
Do not forget that we are at the end of the cycle: prices could rebound from this area and then start to rise again. Moreover the oscillators are in strong divergence on the H1 H4 and daily timeframe.
I conclude: long until proven otherwise, but we must wait for a clear entry signal.
See you later for intraday updates
Have a nice day
yesterdey the price hitted the S1 support (ema 100 daily), from where it has been rebounded, but there hasn't been a determined reaction. Still flat.