Currently in Bearish Trend.
H&S Pattern in play targeting around 40ish.
Weekly Closing above 70 may be a Positive
sign. However, if the selling pressure continuous,
we may witness 67 & then 63.
In my view, it should test 74 - 75 once before going
down (if it has to).
Important Resistance is around 75 - 76.
Important Supports are 67 - 69 & then around 63.
One positive sign is that there is a double Bullish
Divergence on Shorter Time Frames. If it plays now,
we may see 73 - 75 (which is again a Resistance level).
H&S Pattern in play targeting around 40ish.
Weekly Closing above 70 may be a Positive
sign. However, if the selling pressure continuous,
we may witness 67 & then 63.
In my view, it should test 74 - 75 once before going
down (if it has to).
Important Resistance is around 75 - 76.
Important Supports are 67 - 69 & then around 63.
One positive sign is that there is a double Bullish
Divergence on Shorter Time Frames. If it plays now,
we may see 73 - 75 (which is again a Resistance level).
Note
77 :-D right from the mentioned Support Level.
MM - House of Technicals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
MM - House of Technicals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.