We have some upcoming key events this week.
CPI - 8:30am EST - August 12th
PPI - 8:30am EST - August 14th
OPEX - EOD - August 15th
As you can see on the 4hr chart, we have a very simple and strong up trend that institutions have been buying at the yellow lines since we bottomed around 6240 August 1st.
IF, price is to continue to be bullish, we should see some fake outs this week and buyers should step in at the areas in yellow. IF, we lose the 6333 level, then the bullish structure will have changed to short term bearish, until we can retest the 6240 level and reclaim.
I still believe that price can hit the green levels (6452,6482) this week. Big Picture, we are still in an uptrend, and we should be looking for opportunities on the daily chart to find where the institutions may be stepping in to drive price higher.
Follow for my Daily Plan that I will post by 8am EST each day this week.
CPI - 8:30am EST - August 12th
PPI - 8:30am EST - August 14th
OPEX - EOD - August 15th
As you can see on the 4hr chart, we have a very simple and strong up trend that institutions have been buying at the yellow lines since we bottomed around 6240 August 1st.
IF, price is to continue to be bullish, we should see some fake outs this week and buyers should step in at the areas in yellow. IF, we lose the 6333 level, then the bullish structure will have changed to short term bearish, until we can retest the 6240 level and reclaim.
I still believe that price can hit the green levels (6452,6482) this week. Big Picture, we are still in an uptrend, and we should be looking for opportunities on the daily chart to find where the institutions may be stepping in to drive price higher.
Follow for my Daily Plan that I will post by 8am EST each day this week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.