Basic Support and Resistance on the Daily and Weekly Charts

I'm expecting another retest of the 50EMA on the daily. If this level holds, expect another jump and retest of the weekly 200EMA for our make or break.

A rejection of the 200EMA keeps us in the ascending triangle and every time we rejected this region, we shot down sharply. If this plays out, strong support will be found at the bottom of the triangle.

* Breaking through the 200EMA should catapult us higher to untested regions since the November plunge.

Note

Weekly 200 as Resistance

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if you missed the entry a few days ago, heres another entry to catch another 3-3.5% before we drop. The 3960 region should be a quick spike

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weekly needs to close under the 200 before we drop, stay patient.

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Finding weakness at the resistance zone. We should have another failed attempt to break through and close above which will result in a down trend in the coming weeks. We should get the volume when the new weekly candle hits, watch for the bull trap. Here are some support zones that will be tested on our way down.

jy2tradez

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