Presented is a technical analysis on the 4hr chart.
As we can observe there is huge buyer volume following a MACD/Signal cross. Further more a 0 line cross will spike further momentum. I boxed a pivot zone area as you can correlate previous pivots at the expressed level. pay attention to the 1 hr chart to determine if a pivot in trend is in play or a pivot multiple bar retrace to continue bull trend. RSI is currently slanting further towards the overbought zone, a typical indication of buyers in control.
Take profit as mapped on chart and stop loss below a break of the current support hold.
Please comment with thoughts and ideas. Thank you.
As we can observe there is huge buyer volume following a MACD/Signal cross. Further more a 0 line cross will spike further momentum. I boxed a pivot zone area as you can correlate previous pivots at the expressed level. pay attention to the 1 hr chart to determine if a pivot in trend is in play or a pivot multiple bar retrace to continue bull trend. RSI is currently slanting further towards the overbought zone, a typical indication of buyers in control.
Take profit as mapped on chart and stop loss below a break of the current support hold.
Please comment with thoughts and ideas. Thank you.