So that is the new high I was looking for from the weekend's analysis and therefore I am now looking to get short. I am showing a 60min & 4hr chart with the same Pyrapoint lines at 45degree steps from 8351 as used last week. Given I am looking for shorts, I have added the diagonal support lines on the 60min to highlight any obvious rejections and breaks to the downside. It appears that a return to 8938 would provide a starter for ten on the short side and provide a red diagonal break. I am expecting negative divergence on the MACD on the hourly, so whether a break of 9089 would pop to 9240 first is not high on my possibility list, but holding that 9089 line now or later is key to getting down to 8938. The 50% retracement line at 9121 looks like a decent high to watch for. I think the battle lines are drawn; let the daily games begin.
No comments:
Post a Comment