04 June Tuesday View

Price gained pretty much all of the loss it bared on Friday. If we look at daily chart (Jun04_Daily), price is not going anywhere since Thursday and swinging in between.

Despite the longer term view remain Bearish below 34361 (USD 1425), the H4 ascending trendline (Jun04_H4) held and pushed the price further up yesterday. Price also broke previously hard to break resistance level 33700 (USD 1397.66) easily, questioning now to its strength and fought its way back into the ascending trendline since 20 May (included image).

Today, we will see if this line holds, pushes the price further up breaking another remarkable level and resistance 34326 (USD 1423.62) and if it does and holds that level, we may see further gains.

If the trendline support in H1 gives up another support comes in play at 33700 which now coincides with mentioned H4 trendline support, so this level should play an important role. If this level as well gives up then 33387 (USD 1384.68) will come into play. Let's see.

Trade Happy, Trade Safe. :)