Here we have some Major resistance levels that can be found by taking the last high on the daily chart and the major low after it.
The major price swings are easier to identify on a heikin ashi chart.
Draw a Fib Retracement from the high to the low to get these fibs.
I have also added 2 Moving averages: 55 day (light blue) and a 200 day Moving Average. (red)
When the price manages to make another swing high above this lastone and taking the 55 MA over the 200 MA for the first time we should start to see a change in trend to bullish. Keep an eye out for this eventual move.
The change in trend is confirmed once we see resistance becoming support which is not the case yet.
For the meantime, the price is battling resistance as you can see.
Lower timeframe chart is attached.
The major price swings are easier to identify on a heikin ashi chart.
Draw a Fib Retracement from the high to the low to get these fibs.
I have also added 2 Moving averages: 55 day (light blue) and a 200 day Moving Average. (red)
When the price manages to make another swing high above this lastone and taking the 55 MA over the 200 MA for the first time we should start to see a change in trend to bullish. Keep an eye out for this eventual move.
The change in trend is confirmed once we see resistance becoming support which is not the case yet.
For the meantime, the price is battling resistance as you can see.
Lower timeframe chart is attached.
