By Claus Andersen
1. April 2019
Price is moving in a bull trend. It is late in the trend, and I expect a break of the TL soon. The BO lower from last week has been reversed. When price trends like this remember that is only less than 20% of the time it does that. It will end and we will have to trade a trading range again. It is easy to expect runners after a couple of days with trending markets. That is dangerous and expect it to end.
New support and resistance levels on this chart. The always in changed from down when price broke out the trading range to the upside and had follow through. On higher timeframe price is still trading sideways. Major resistance at around 11.800. I think it’s likely that bulls will attempt a test of that level.
Have a nice trading week.