If the market wants to keep a healthy bullish trend, the excess oversold disruption in box 1 should be reflected with price action in box 2, outside of the yellow box.
And if the level of prior high at 11727 holds as support upon retesting, we can set our target price at 12068.
But if the prior high cannot hold, the market is likely to range. By then, it's safer to wait for the price to break the ranging zone. Otherwise there are too many uncertainties when the market has no specific direction.
**Not Financial Advice**
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
And if the level of prior high at 11727 holds as support upon retesting, we can set our target price at 12068.
But if the prior high cannot hold, the market is likely to range. By then, it's safer to wait for the price to break the ranging zone. Otherwise there are too many uncertainties when the market has no specific direction.
**Not Financial Advice**
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.