Tuesday 21 September 2021: Technical Outlook and Review
On the H4, price dropped lower breaking previous supports. With price now testing key graphical swing low support at 33613 and stochastic testing support where price bounced in the past, an intraday bounce towards graphical overlap resistance at 34510 could be possible. Otherwise, breaking below 1st support will see price drop lower towards daily support at 33270.
Monday 20th September 2021: Technical Outlook and Review
On the H4, price traded sideways on Friday and is still holding above 1st support at 34505. We see a possibility where buyers may enter and add to their longs with a possible upside target at 1st resistance at 35199. Stochastics is testing support where price bounced in the past as well. Otherwise, breaking below 1st support will see price drop lower towards 2nd support at 34148.
Friday 17th September 2021: Technical Outlook and Review
On the Daily chart, price drifted lower below 1st resistance at 35600. With stochastics reacting below resistance where price pulled lower in the past, it is possible to see some selling pressure push price lower towards 1st support at 33270. Otherwise, breaking above 1st resistance will see price swing higher towards 2nd resistance at 37770.
Thursday 16th September 2021: Technical Outlook and Review
On the Weekly, price continues to hold between 1st support at 33270 and 1st resistance at 37770. With price holding above moving average, we still see possible bullish pressure. However with no good levels for entry, we prefer to remain neutral for now.
Wednesday 15th September 2021: Technical Outlook and Review
On the Weekly, price continues to hold between 1st support at 33270 and 1st resistance at 37770. With price holding above moving average, we still see possible bullish pressure. However with no good levels for entry, we prefer to remain neutral for now.
Tuesday 14th September 2021: Technical Outlook and Review
On the Weekly, price continues to hold between 1st support at 33270 and 1st resistance at 37770. With price holding above moving average, we still see possible bullish pressure. However with no good levels for entry, we prefer to remain neutral for now.
Monday 13th September 2021: Technical Outlook and Review
On the Weekly, price continues to hold between 1st support at 33270 and 1st resistance at 37770. With price holding above moving average, we still see possible bullish pressure. However with no good levels for entry, we prefer to remain neutral for now.
Thursday 09th September 2021: Technical Outlook and Review
On the H4, price has experienced a minor pullback towards 1st support at 34494.34 in-line with 61.8% Fibonacci retracement. We still see a low probability bearish scenario where sellers may further add to their shorts to push price lower towards our 1st support. Otherwise a break beyond our 1st support will see the price swing lower towards our 2nd support at 33741.76. MacD is showing potential for further downside.
