I update the idea of fairy-tale flat, which, hopefully, will end by the end of the month.
Approximate flat limits 6000-6360. In the previous idea, I thought that coming out of the first fleet we will purposefully start the movement down. But no. We have purposefully come to the second fleet. Therefore, I decided to combine this consolidation in order not to make sharp movements when one of the flutes breaks. In the future, I expect to drop to 5500.
There are two ways to get to 5500:
1. Break the flat down now
2. go to the top of the flat and maybe even test the trend line (6460$), then go for 5500
Approximate flat limits 6000-6360. In the previous idea, I thought that coming out of the first fleet we will purposefully start the movement down. But no. We have purposefully come to the second fleet. Therefore, I decided to combine this consolidation in order not to make sharp movements when one of the flutes breaks. In the future, I expect to drop to 5500.
There are two ways to get to 5500:
1. Break the flat down now
2. go to the top of the flat and maybe even test the trend line (6460$), then go for 5500
Note
We beat the blue channel. To continue the fall, it would be ideally not adjusted above the zone 5890-6020. Admissible correction to the price range 6100 - 6180
Note
A large volume was formed in the price zone of 5890-5900. If sellers can not keep this zone - a local turn can start without a test level of 5500
Note
Sellers failed their attack. Now let's see what the attack on buyers ends
Note
if we keep the valuation zone 6230-6300 - the next target is 6800
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