Context:
price rejected the mean and formed a lower high on the way at 23850 tthe downside momentum increased aswell
we trade now at tthe lows of 23150 and price makes a pause , but to say that this is a reversal , we need to see
buying coming into the markets and on a reaction to the downside we need to see a lessening of the downward
progress ie. a higher low before considering an attempt to test the 50% mark at 23530 , which if price rejects this
hard, is a sign of weakness , if the downward progress continues. the next level of interrest will be 22760
Trading Opportunities:
Long:
Reversal at current demand level of 23150
Reversal at 50% mark of 22760
Short:
Retracement at 50% mark of 23530
Signs of strength:
none
Signs Of weakness:
rejection of the mean at 23850
increased downside momentum
Support:
22760
22200
Resistance:
23530
23700
23850
www.invezted.com
price rejected the mean and formed a lower high on the way at 23850 tthe downside momentum increased aswell
we trade now at tthe lows of 23150 and price makes a pause , but to say that this is a reversal , we need to see
buying coming into the markets and on a reaction to the downside we need to see a lessening of the downward
progress ie. a higher low before considering an attempt to test the 50% mark at 23530 , which if price rejects this
hard, is a sign of weakness , if the downward progress continues. the next level of interrest will be 22760
Trading Opportunities:
Long:
Reversal at current demand level of 23150
Reversal at 50% mark of 22760
Short:
Retracement at 50% mark of 23530
Signs of strength:
none
Signs Of weakness:
rejection of the mean at 23850
increased downside momentum
Support:
22760
22200
Resistance:
23530
23700
23850
www.invezted.com