Weekly price is on bearish market condition with below of 100-period SMA and 200-period SMA:
- the price is crossing 48.38 support level for 45.17 as the next bearish target;
- symmetric triangle pattern was broken by price from above to below for good possible breakdown of the price movement in the near future;
- Nearest support levels are 48.38 and 45.17;
- Nearest resistance levels are 65.40 and 72.99.
| Resistance | Support |
|---|---|
| 65.40 | 48.38 |
| 72.99 | 45.17 |
- if weekly price
breaks 48.38 support level so the bearish market condition will be continuing with the secondary ranging up to 45.17 as the next bearish target;
- if weekly price breaks 45.17 support level so the primary bearish will be continuing without ranging up to the new 'bottom' to be formed;
- if not so the price will be moved within the levels.
