- Prices tested the upper Bollinger Band near 4400 in late September and early October, which acted as resistance.
- The market has since pulled back from this level, signaling a rejection of higher prices at this point.
- The price is now around 4156, and the 4100 level seems to be acting as a near-term support.
- The widening of the Bollinger Bands in the past months suggests increased volatility, especially during the downtrend.
- The market appears to be in a corrective phase after a sharp downtrend, with potential support around 4100 and resistance near 4400.
- A break below 4100 could signal a continuation of the downtrend, while a breakout above 4400 might suggest further recovery toward higher levels.
- Watch for narrowing Bollinger Bands, as this could signal a volatile move in the near future.
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➀➁➂➃➄
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.