Okay. Some deep analysis on different timeframes.

Im not a native english speaker, so I may write a bit with Russian emphasis.

Short term. Price had stuck between hourly sma100/200



Hourly sma200 had supported current rally off 1100, bears tried to break it several times. And now, new round.



In daily graph sma10 acts similar. When candle close below sma - last is considered broken. If bears break daily sma10/hourly sma200, those MA will turn into strong resistance (as they were strong support). So to break those curves back to the upside will be a hard quest.



So if bears break d/sma10 the next target is d/sma20.

As you can see from last graph, there is no barrier down to 1200 when d/sma20 will be broken.

Summary: When bears start massive attack on 1300 (where h/sma200 d/sma10 tanks), success breakdown of this level will mean the trend reversal. New trend Target is 1200.

There is a strong support located @1160-1220 (d/w sma/bollinger, fibo levels). So i consider this level to be a bounce to continue trace out huge weekly figure (in next post).

Awesome.  I hope you're right.

Short term trend lines analysis.

Battle for trend line log and conclusions.

Here are two trends: T1 off 970, slowly moving to T2 off 1100.

T1 resistance breakout marked as 1. Breakout was with healthy volume. Resistace line of T1 became new support line and this was confirmed by volume.

Bears started to fight with new support line of T1 on 2,3,4. During this they also tested new support line of T2, but without kinda luck.

Finally, new support lines of old T1 and new T2 were broken down on 5. They were strong support, tanked bears several times. So now they became strong resistance.

Now, bulls trying to repeat the same with their lost support.

Because lines were strong, they stay strong - as they were defeated with heavy firefight. So I consider their breakout in near future is posiible only on fantastic volume, which is not really possible. The more possible scenario is fight for resistance of old trend @1280

Short term trend target: 1280

Waiting for lower prices is a serious gamble now. Prices are forcefully held low. You cannot figure out the Whales intent based on technical indicators. Be vary of what is suggested in this thread.

Well I'm a hedgehog, the kind of pig that doesn't get hurt by the unexpected. We will  all know something Monday before lunch.

Many people here entering market with support only emotions and/or good/bad news. This is strategy of fail and somewhat kinda playing in ponzi.

I say more. Bad/good news with strong impact on market are predicted by complex TI marks. You dont know what news will be and TI says they will before strong bold price move. And they appear like by magick wand swing when their time is come.

So TA stays before any news events and emotions.

I hope my will stay before.

This is good

I just post picz here with explanations ) I dont want to comment offtop. Am i right or not - time will say.

I dont accept sayings "My ass says this is not good time for short". If you have something to say - attach TA pics here.

so_proud.jpg

I do this for free as long as i have time for this. Also this is to remind to some analysts to stop to be blind and emotional and stop ignoring indicators.