Weekly Analysis explained:
1) Breakout of resistance level (The zone in grey)
2) Resistance now acts as support
3) 21 moving average has been broken and now acts as dynamic support
4) Price has reached the 50% fibonacci level which acts as an add-on confluence
5) Morning Star Candlestick partten formation, which is a trend reversal signal indicating that buyers are soon to take back control of the market.
1) Breakout of resistance level (The zone in grey)
2) Resistance now acts as support
3) 21 moving average has been broken and now acts as dynamic support
4) Price has reached the 50% fibonacci level which acts as an add-on confluence
5) Morning Star Candlestick partten formation, which is a trend reversal signal indicating that buyers are soon to take back control of the market.