Currently at 778.
Weekly:
RSI resistance at 50 levels since August last year. Currently at 44.
Next high resistance (prev 1-3 month high) 880 or 950.
From 950 levels, there's a fib ratio 50% resistance at 805, with round number and ceiling resistance around 800.
Overall: Still has room to go up.
Daily:
Next short term resistance will be around 800 with a trendline sitting there.
might seem a little 'slow' for me to catch a downward move in time) Trying out 1hour charts.
1 hour:
Prices still in clear uptrend on 10 and 21period EMAs.
Prices made new highs, but RSI hasn't.
RSI's on extreme overbought now.
Conclusion: Wait for 1hour charts to capitulate towards the downside to resume slide. Limited potential upside move, so don't take long positions yet unless it clears the 800 mark properly. Capitulation should come within this week if it does.
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