By Claus Andersen
14. January 2019
15 min chart:
After the bull spike and channel last week, price is now trading sideways. It looks like a potential final flag reversal down. The breakout to confirm that has still to come. I will trade this like a trading range until I get more price action that changes that. In latest bear channel price failed to reach the channel line. That is often a sign, that price will test the other direction next. In this case that would be the upside. That is to be expected since price is at the low of the trading range.
Adjusted support and resistance levels.
The price range of the trading range is around 150 points. That means that on the 5 min chart, there will be plenty of opportunities to catch a small trend.
Have a nice trading week.