Friday 16th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price continues pushing higher towards the 1855 resistance, still holding above 1764 weekly support. We could potentially see further bullish momentum as price continues to approach the 1855 resistance.
Thursday 15th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price trades sideways, still holding above 1764 weekly support.
Wednesday 14th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price trades sideways, still holding above 1764 weekly support. Further bullish pressure above 1764 weekly support could be possible with an upside target at 1855 resistance.
Tuesday 13th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price continues to push higher, above 1764 weekly support.
Monday 12th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price continues to push higher, above 1764 weekly support. Further bullish pressure above 1764 weekly support could be possible with an upside target at 1855 resistance.
Friday 09th July 2021: Markets continue to evaluate COVID resurgence
Asian stock markets are trading mixed on Friday, following the broadly negative cues overnight from Wall Street on downbeat US labor data and continued slump in U.S. treasury yields.
Friday 09th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price continues to push higher, above 1764 weekly support.
Thursday 08th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price is also testing key 1764 weekly support. While 1764 support looks fragile, as long as we do not have a daily close below this support, we may see price bounce towards 1855 resistance. Otherwise, breaking below 1764 support, price could drop lower towards 1677 support next.
Wednesday 07th July 2021: Technical Outlook and Review
On the weekly timeframe, price tested and bounced above key trendline pullback support at 1764. On the daily, price is also testing key 1764 weekly support. While 1764 support looks fragile, as long as we do not have a daily close below this support, we may see price bounce towards 1855 resistance.
