UPDATE: The hourly chart looks now bearish the price is testing 1514 and the EMA50 (both now resistance)
Very confusing action.... ugly drop and ugly daily candle but the price is just testing 1514 again (support now) and on the daily chart it looks like the histogram is trying to turn up so I am more bullish than bearish(see the red scenario on the hourly chart) for now. We must see the close for more information, but the picture is bearish again only bellow 1514.
Feb 25, 2013
Short term update
UPDATE: The bearish action is now confirmed with retest of 1514. It looks like some broadening formation (lasting almost one month) and this leg has not managed to make higher high which means that we should see a break to the downside.Watching again the main scenario, the green one on the hourly chart bellow.
UPDATE: The hourly chart looks now bearish the price is testing 1514 and the EMA50 (both now resistance)
Very confusing action.... ugly drop and ugly daily candle but the price is just testing 1514 again (support now) and on the daily chart it looks like the histogram is trying to turn up so I am more bullish than bearish(see the red scenario on the hourly chart) for now. We must see the close for more information, but the picture is bearish again only bellow 1514.
UPDATE: The hourly chart looks now bearish the price is testing 1514 and the EMA50 (both now resistance)
Very confusing action.... ugly drop and ugly daily candle but the price is just testing 1514 again (support now) and on the daily chart it looks like the histogram is trying to turn up so I am more bullish than bearish(see the red scenario on the hourly chart) for now. We must see the close for more information, but the picture is bearish again only bellow 1514.
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