0
662
Weekly price is on bearish market condition with below of 100-period SMA and 200-period SMA:
- the price is crossing 54.26 support level for the bearish trend to be continuing;
- triangle pattern was broken by price for good possible breakdown of the price movement;
- next support levels to be broken are 51.39 (W1), 50.20 and 45.17;
- Nearest support levels are 51.39 (W1) and 45.17 (W1);
- Nearest resistance levels are 66.32 (W1) and 86.37 (W1).
Resistance | Support |
---|---|
66.32 (W1) | 50.20 (W1) |
86.37 (W1) | 45.17 (W1) |
- if weekly price
breaks 66.32 resistance so we may see
the secondary rally within the primary bearish market condition;
- if weekly price breaks 45.17 support level so the primary bearish will be continuing without ranging up to the new 'bottom' to be forming;
- if not so the price will be moved within the channel of 66.32 and 45.17.