FMG Technical Analysis, page-11844

a green reversal candle finally
opened +37c higher
then a green higher body with 32c body 1c neck 15c tail
meaning the lows were rejected and then that arvo ramp to daily high and closing high

bullish candle at the 5 year lows 14-16
TA gone green MACD RSI reversed
last time it went this line was 9 April from 14 to 17 in May 16th
then back down again to 1450 yesterday

BUYZONE 14-17 validated yet again
needs to reconnect with that 1550-1580 ledge formed 23 May to 17 June

BULLS target is 1550-1580 ledge with further green candles, 80% chance now
BEARS target is to reverse this tmrw with lower open red candle and create an evening star candle (10% chance)
SHORTS position looks weak here imho
BULL daytraders made motza 32c today and SHORTS lost 50c

Looks to me the green TA and market sentiment has changed so BULLISH momentum is hard to change like turning around an aircraft carrier.
Plus STRONG close with STRONG open are BULLISH indicators
Plus BUYZONE at 5 year low point

I mean how low can it go?
well, this area 14-17 has been tested many many times last 5 years and HELD STRONG and rebounded out.


I expect another green candle with BULL RUN at 1550-1580 area tmrw
but a higher open may indicate another false start pattern with SHORTING all day long as they are ever present here.
Changed my sentiment to BUY.
Watch the open though imho.

However today the SHORTS are BURNING, BURNING to a crisp.
So I am smiling !

BURN them SHORTS, BUURNN !