WEDNESDAY
19-JUN
Price has taken LW high and reacted from the W1 sell zone for a second time.
This W1 sell zone is the Q2-2018 swing high and although the momentum is bullish a possible short term reversal could be on the cards.
A lot of longs want to enter the market at present and it may be a good time to trap them.
Nevertheless, with this bullish momentum it's hard to see anything else than the Q2-2018 getting broken.
Based on all that, traders that want to buy around the current prices will have to be very cautious.
On the Daily, price is still in consolidation today and right between y'day's high and low.
The main reason for a possible drop in price would be to fill in the gap in the futures market before the rally resumes.