Correction overdue with possible inverted head and shoulders??
Am I the only one unconfortable with the fact that the €1000 candle from 12/04/18 has not been tested to the 0.5? I think a test is overdue and so is a correction judging by the indicators – however is at 59 on the daily, which it has not done since the 20/12/17, this would help towards the trend reversal case. I would however not be happy if we crossed this threshold without retesting the previously mentioned large daily candle.
Taking into account the .5 fib level a correction would start forming what looks like a bit of an inverted … Aiming first for 7300 to the upside to then correct all the way down to approximately 6000. If then price picks back up the would begin to take real shape and provide a platform where price and momentum would have a real chance to corroborate that trend reversal.
Will continue to watch and see.