It is reaching the support of previous consolidation zone. If support turns resistance, then it will go in the short direction. However if it breaks, then it will attempt to break resistances.
Targets are simply the next supports/resistances.
Targets are simply the next supports/resistances.
Note
Sellers are a lot more present in this current candle thats hitting the trend line. However, the candle did not close yet. Further confirmation necessaryNote
There she goes. Target one reached. 4209.8 and 4146 are both possible turning point, but if this is a start of a bearish run, 4040 will be the target.Note
Looking good. I'm sure everyone noticed, but there was a head and shoulders formation that was formed. Just for added confluence
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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.