Volatility and volume decreased over the last days, it seems like we will see a good movement over the next hours as soon as the simmetrical triangle (white) breaks.
During this period of indecision, the highs and the lows seem to come together in the point of the triangle with virtually no significant volume. Over the past weeks, investors just didn't know what position to take.
There is a very solid resistance at around 7800, it might be interesting to consider opening long positions after the resistance is clearly broken, as bulls might return in the course of this move.
Support levels at 7450 and 7050. If we break the support at 7000, we might considerably go much lower.
Outcome 1: Simmetrical triangle breaks downwards, reaching support at 7450, or even 7050.
Outcome 2: Simmetrical triangle breaks upwards, reaching resistance at 7700-7800.
Don't forget to like if you like :)
Safe trading.
During this period of indecision, the highs and the lows seem to come together in the point of the triangle with virtually no significant volume. Over the past weeks, investors just didn't know what position to take.
There is a very solid resistance at around 7800, it might be interesting to consider opening long positions after the resistance is clearly broken, as bulls might return in the course of this move.
Support levels at 7450 and 7050. If we break the support at 7000, we might considerably go much lower.
Outcome 1: Simmetrical triangle breaks downwards, reaching support at 7450, or even 7050.
Outcome 2: Simmetrical triangle breaks upwards, reaching resistance at 7700-7800.
Don't forget to like if you like :)
Safe trading.