FCPO 16 Feb 2023 : High Demand?
Yesterday :
1. Price able to break down uptrend channel. However, the support area is still holding up.
2. Maybe the price did reaccumulate again before the gap-up today.
Today :
1. Price gap up due to high demand following SBO demand.
2. Price so far sustain above the supply zone.
3. Price still not yet at the immediate resistance level. If breaks above, possible to reach the next resistance level around 4100.
5min :
1. SnR: Price break previous resistance level and sustain above it
2. Market structure: The morning session price is able to make an uptrend structure.
3. EMA12 is above EMA50 : Uptrend
4. Price respect EMA12: Uptrend. This is an entry opportunity today.
If price breakdown MS, the possible larger pullback to close gap. Monitor if price able to break EMA50
1. Price able to break down uptrend channel. However, the support area is still holding up.
2. Maybe the price did reaccumulate again before the gap-up today.
Today :
1. Price gap up due to high demand following SBO demand.
2. Price so far sustain above the supply zone.
3. Price still not yet at the immediate resistance level. If breaks above, possible to reach the next resistance level around 4100.
5min :
1. SnR: Price break previous resistance level and sustain above it
2. Market structure: The morning session price is able to make an uptrend structure.
3. EMA12 is above EMA50 : Uptrend
4. Price respect EMA12: Uptrend. This is an entry opportunity today.
If price breakdown MS, the possible larger pullback to close gap. Monitor if price able to break EMA50
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