Monthly: So, the bullish front could not get above a crucial resistance line 2111.7. Now the upward reversal from ADX can be treated as the part of Southern scenario.
Weekly: structure remains bullish. Though, a bearish pinbar is a contradictory signal. If the price reaches 2017.3 (the middle Bollinger band), we’ll get the bullish pattern Over&Under with the Sell entry point around 2111.7
Daily chart: a rising structure as well. The key support here is the bottom Bollinger band (2041.4). Its breakthrough will enable a bearish movement.
The main scenario – drop to 2017.8
The alternative scenario – touch of support 2041.4, then a return to 2086.6 and only after that a drop to 2017.8.
Solutions: Looking for Sell opportunitities to 2017.8.
Monthly: bulls are weak around the key resistance 55.66 (the middle Bollinger band), which may cause another downward reversal.
Weekly: bullish potential is not exhausted here. Since the level 55.66 has not been touched yet, we expect when it happens.
Daily chart: on the local level there are both signs of weakness and a downward reversal. Resistance is around 52.08 (the top Bollinger band).
Meantime it is not clear how markets will resolve contradiction between weekly bullish pressure and signs of reversal on monthly and daily charts.
The main scenario – growth to 55.66
The alternative scenario – growth to 52.08 followed by a downward reversal.
1. Buy to 52.08 and possibly to 55.66.
2. If there are short signals around 52.00, in the middle term we should sell to. We’ll discuss goals in the next review (if this scenario develops)
Monthly: a bullish momentum on trend ADX gives a bad sign to the upper Bolinger envelope, which in the result can be torn.
Weekly: signs of divergency, so around resistance 1328.32the price will reverse down.
Daily chart: Bullish pressure is unappealable.
The main scenario – surge to 1328.32
The alternative scenario – a more abrupt growth to 1350.00
1. Buy to 1328.32
2. If there are short signals around 1328.32, we should sell to 1248.00.