On the 4-hour chart, an uptrend is forming. The instrument left the sideways corridor formed by the boundaries of Bollinger bands, breaking out its upper border. The price range has expanded, which indicates the likely preservation of upward dynamics in the short term.
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14.10.2019 - 08.10.2019
On the 4-hour chart, the price tests 1504.60 (correction of 61.8%), however, it still cannot breakout it since the downward oncoming fan is exerting pressure on the quotes. After the breakout of the fan and consolidation above 1515.00 (correction 76.4%), the price may grow to 1531.00 (correction 100.0%). Otherwise, the decline will resume to 1488.50 (correction 38.2%), 1478.50 (correction 23.6%) and 1462.00 (correction 0.0%). Technical indicators generally reflect the possibility of short-term growth. The MACD histogram is increasing in the positive zone. Stochastic is pointing upwards.