Hello Traders:
The Market is on an Ascending Channel with some swing highs and swing lows.
Price action on the weekly is showing me multiple impulse and correction moves. Right now, price seems to be starting a bullish impulse to the upside. Price broke above the main trendline on a descending Channel on the weekly. Does that tell us that price action could continue to the upside?
Price action on the daily seems to be a bit neutral but overall bullish because price seems to be making a newer impulse move to the upside, yet for a short period and back down long term. I would say at least 100 pips or so. However, price will probably start to reverse. Right now I'm overall bullish. Price has touched the gold zone on the fib on the daily.
The Market is on an Ascending Channel with some swing highs and swing lows.
Price action on the weekly is showing me multiple impulse and correction moves. Right now, price seems to be starting a bullish impulse to the upside. Price broke above the main trendline on a descending Channel on the weekly. Does that tell us that price action could continue to the upside?
Price action on the daily seems to be a bit neutral but overall bullish because price seems to be making a newer impulse move to the upside, yet for a short period and back down long term. I would say at least 100 pips or so. However, price will probably start to reverse. Right now I'm overall bullish. Price has touched the gold zone on the fib on the daily.