26 Nov Tuesday View

Two spins in the daily chart the day before yesterday and before that and higher close yesterday testing a low of USD 1227.56 forming a hammer may indicate a bullish reversal, not in the long term, but just for short term as a correction of previous fall. It will be confirmed with a close above USD 1276. Above this level, the next level the price should eye on would be USD 1336, a 38.2  % retracement and a 150 SMA level in daily as of now. The RSI in H4 is at around 53, there has been a resistance at 65. We need to look at how this RSI reacts at around this level and if resisted again and driven downwards then need to analyze its intensity which confirms whether the bullish signal generated at daily could be viable or not.

Trade Happy, Trade Safe :)