Hello Traders,
HS has met rising trend line, that connects the low on Mary 25 and September 25. It act as support!
The pull back since look like a corrective setup, that is done or close to do so!
A break of the 26000 level should open the door to the 268xx area (blue line)!
A decline to Thursdays low @ 25255 opens the door to 25036 and below to the low on August20.
A substantial break of this level would increase the corrective pattern with short-term targets to 24029 and 23495 area. More bearish potential exist!
Only a daily close (at minimum) with huge orders for buying contracts above the resistance level at 268xx area would clear the picture in favour of the bulls!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
HS has met rising trend line, that connects the low on Mary 25 and September 25. It act as support!
The pull back since look like a corrective setup, that is done or close to do so!
A break of the 26000 level should open the door to the 268xx area (blue line)!
A decline to Thursdays low @ 25255 opens the door to 25036 and below to the low on August20.
A substantial break of this level would increase the corrective pattern with short-term targets to 24029 and 23495 area. More bearish potential exist!
Only a daily close (at minimum) with huge orders for buying contracts above the resistance level at 268xx area would clear the picture in favour of the bulls!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
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.