Is the trend changing?
We found a bounce from 9000 on daily.
We are currently testing an old support that has now turned resistance. (Red box from about 10750-11150).
Also 20 daily EMA (blue line) is in that box. Last few times we have tested it, we got rejected.
If we are going to get rejected again from this box, my targets 8.5k to 7.2k are still in tact.
In my opinion, this downtrend isn't end until the box turns into support and we are able to close above it.
We are currently testing an old support that has now turned resistance. (Red box from about 10750-11150).
Also 20 daily EMA (blue line) is in that box. Last few times we have tested it, we got rejected.
If we are going to get rejected again from this box, my targets 8.5k to 7.2k are still in tact.
In my opinion, this downtrend isn't end until the box turns into support and we are able to close above it.
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.