Simple but efficient analysis
We are bellow (but near) 7700$ ; which is the 200 day EMA.
It is difficult to predict the direction at this price level as 2 scenarios are presented :
- If the market breaks this level with high volume , big green candle , and closes above it : positivity is imminent.
- Otherwsie : selling pressure will continue. If 7500$ broken , the negativity can be very harsh as the major support monthly level will be broken.
It is difficult to predict the direction at this price level as 2 scenarios are presented :
- If the market breaks this level with high volume , big green candle , and closes above it : positivity is imminent.
- Otherwsie : selling pressure will continue. If 7500$ broken , the negativity can be very harsh as the major support monthly level will be broken.
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.