A trendline can be drawn showing a resistance area, which now could be considered a support area
This is a resistance / support analysis
The shift from bear to bull market is in green
Emergence of the 200MA allows an assumption of a support as it aligns above the down trend line
This is a resistance / support analysis
The shift from bear to bull market is in green
Emergence of the 200MA allows an assumption of a support as it aligns above the down trend line