Has price finally made a decision

Good Morning Dynamic Traders,

Hope you had a good start to the week!

Price has totally turned around from my update yesterday! Yesterday morning we saw price falling below the support line. If you look at the day chart below you can see that price finished yesterday above the support line and climbed just above the RN.













Why is this?

To help me explain this turn of events I will be using the help off the weekly chart. You may remember last week on one of my updates I was commenting that price could in a bearish flag or a bullish flag. If you look at the weekly chart below you will see that price has dropped to the RN and then changed direction and has started to climb. At the same point where price changed direction is a fib breather level. This fib breather level along with the MACD convergence (on the day chart), the RN and the Support line seems to of helped price find some strength.













This doesn’t necessarily mean that we jump on a long position, as it is still too early to get confirmation that price has is performing a bullish flag.

This is definitely a chart worth keeping on your watch list.

Remember always carry out your own analysis!

Carpe Diem

Richard Monnery