Context:
After breaking the major downtrendline , price made a steady advanced with increased buying pressure
as seen on the lenght/stride and pace of the rallies compared to the reactions , the current rally brought us
to the 50% retracement level of the downtrend at 58800 which is a major keylevel , if we break this level to the upside
with a nice follow thru , we can speak of a strong bullish market. any rejection plus a break of the demandline
will bring us back to the 50% level of 52500
Signs of strength:
broken supplyline
strong rallies
Signs Of weakness:
downtrend
Support:
55500
52500
49000
Resistance:
58800
60000
62120
invezted.com
After breaking the major downtrendline , price made a steady advanced with increased buying pressure
as seen on the lenght/stride and pace of the rallies compared to the reactions , the current rally brought us
to the 50% retracement level of the downtrend at 58800 which is a major keylevel , if we break this level to the upside
with a nice follow thru , we can speak of a strong bullish market. any rejection plus a break of the demandline
will bring us back to the 50% level of 52500
Signs of strength:
broken supplyline
strong rallies
Signs Of weakness:
downtrend
Support:
55500
52500
49000
Resistance:
58800
60000
62120
invezted.com
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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.
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.