H4 : Recent price action triggered a doji pattern (indecision and uncertainty), with its intra H4 low testing Tenkan-Sen.
It is currently traded below the middle of the short term uptrend channel.
Continue to watch Tenkan-Sen as a first support and then bottom of the channel; lower focus
will be on former low @ 44151 ahead of 43577 (50% Fib ret).
On the upside Kijun-Sen (48115) as the first significant resistance ahead of MBB (48319).
An upside breakout of the D1/H4 downtrend channel, would neutralise the ongoing bearish
price action.
Monitor closely price action on H1, M15 and M5
It is currently traded below the middle of the short term uptrend channel.
Continue to watch Tenkan-Sen as a first support and then bottom of the channel; lower focus
will be on former low @ 44151 ahead of 43577 (50% Fib ret).
On the upside Kijun-Sen (48115) as the first significant resistance ahead of MBB (48319).
An upside breakout of the D1/H4 downtrend channel, would neutralise the ongoing bearish
price action.
Monitor closely price action on H1, M15 and M5
