While monthly prices have moved to higher highs, the end cannot be said for the candle formation. The monthly higher BB line has closed at 2182.67 and most likely extend higher by Mondays new monthly open. We should then see the new level at which a possible piercing candle could occur. The monthly signals however are still in a negative divergence and this is likely just ticking to end the run.
SEN: Bullish
ST: UP
PA: UP
R: NA
Price on an intra-day level tried to close above the trendline I drew last week and almost got there. I guess we should see it try its luck in the new month. I cannot stress enough that the monthly chart is the most important to watch at the moment, and we should be on the lookout as to what transpires for August.
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