price has made its 0.618 retracement with rising wedge pattern top below 0.786 retracement
with divergence on upper trend line in rsi and upper trend line of chart pattern. while lower trend line breakout on rsi can make rsi oversold.
if this is correction to previous bearish trend form 1800 than we can expect new lower low around 1750.
if fed going to start or announce tapering in November and somebody has to sell than it is ready to make new bearish impulsive move before fomc
if it is going up on fomc than it has already made HH and HL form 1721 to 1800, ready to make new HH above 1800.
upside breakout will be confirmed after breakout of 1795 above 0.786 retracement.
bearish breakout confirmation on breakout of lower trend line.
bullish breakout : these can be abc corrective wave part of previous trend 1721 to 1800 making HH and HL after retracement from 1760
Resistance 1795, 1834
support 1760, 1751, 1745
with divergence on upper trend line in rsi and upper trend line of chart pattern. while lower trend line breakout on rsi can make rsi oversold.
if this is correction to previous bearish trend form 1800 than we can expect new lower low around 1750.
if fed going to start or announce tapering in November and somebody has to sell than it is ready to make new bearish impulsive move before fomc
if it is going up on fomc than it has already made HH and HL form 1721 to 1800, ready to make new HH above 1800.
upside breakout will be confirmed after breakout of 1795 above 0.786 retracement.
bearish breakout confirmation on breakout of lower trend line.
bullish breakout : these can be abc corrective wave part of previous trend 1721 to 1800 making HH and HL after retracement from 1760
Resistance 1795, 1834
support 1760, 1751, 1745
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