It is all down to Friday Non Farm Payroll (NFP)!
Simple observation
- MA5 above MA20
- MA5 also above MA50
- Double bottom with neckline at 444/445 (also confluence with MA20 and MA50)
- Can the price action stay above 450?
- 30mins Chart shows an inverse cup to 444/445 (coincide with above back test of neckline price action)
- MA5 above MA20
- MA5 also above MA50
- Double bottom with neckline at 444/445 (also confluence with MA20 and MA50)
- Can the price action stay above 450?
- 30mins Chart shows an inverse cup to 444/445 (coincide with above back test of neckline price action)
Possible outcome
- Good NFP reaction - Stay in buy channel and attempt to break into previous range above 452
- Bad NFP reaction - Back test to 444/445 and depends if bulls hold it
- Good NFP reaction - Stay in buy channel and attempt to break into previous range above 452
- Bad NFP reaction - Back test to 444/445 and depends if bulls hold it
Leaning bullish for now. Good luck, all!
![It is all down to Friday Non Farm Payroll (NFP)!](https://sgsnsimg.moomoo.com/feed_image/101629496/42a2f95fd223340aa3e101c20282bf16.jpg/bigmoo)
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