SA40 Bullish Outlook
Good morning,
The J200 looks bullish on the H1 chart, but it is within a consolidation area, so some caution regarding momentum behaviour is needed.
The price has two significant resistance levels: 77302 and one within a resistance zone at 78148.95.
There is also an ABC pattern that does not align well with my Elliott Wave count, suggesting that there might be an even lower C. This means that the support level is in question due to the break of the trend line; there is an argument around that. If a bearish candle breaks the support line, the current C level of 75488.39 would need to be broken to invalidate the setup.
Overall, there are bullish interests here, targeting highs of 79533.16.
Happy Trading,
K.
Not trading advice.
The J200 looks bullish on the H1 chart, but it is within a consolidation area, so some caution regarding momentum behaviour is needed.
The price has two significant resistance levels: 77302 and one within a resistance zone at 78148.95.
There is also an ABC pattern that does not align well with my Elliott Wave count, suggesting that there might be an even lower C. This means that the support level is in question due to the break of the trend line; there is an argument around that. If a bearish candle breaks the support line, the current C level of 75488.39 would need to be broken to invalidate the setup.
Overall, there are bullish interests here, targeting highs of 79533.16.
Happy Trading,
K.
Not trading advice.
Trade fermée: cible de profit atteinte
That's fine.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.