Following on from our 3-month analysis we can jump into the 1-month chart:
Not a great deal of price action to the left. But we do have a target of 58354. A close above here before the monthly paint on Thursday would be super bullish.
The weekly chart is the first time frame (going from high to low) where we can start to see some signs of short-term weakness in the trend:
I’d say they just about held support in late Feb at 45914. And since then they’ve pushed into new highs.
Last week’s close saw a buy back. If they slide lower I’d like to see 49316 area held for the up trend to continue.
Zooming down to the 4H I’ve slapped a few more S/R lines on, which may or may not play. Plus, we have a text book bull flag pattern:
On the lower time frames I expect them to break out of the flag pattern and see some resistance at 57207. I’ve marked the end of day with this blue vertical:
If they continue to hold 55000 then the breakout is on. Otherwise a dump down to 54000.
Daily close price prediction is anywhere between 55000 and 57200. But leaning towards the bullish side.