-The 4175 to 4190 is identified as an important level of horizontal resistance i.e. a supply zone where traders have taken control of the price.
- This range also coincides with the upper boundary of the 2 standard deviation, 200-day linear regression channel.
-Also noted is the price having recently traded back above it's 200-day simple moving average. The current retracement toward the mid-point of the linear regression channel may coincide with a re-test of the 200-day moving average.
- This range also coincides with the upper boundary of the 2 standard deviation, 200-day linear regression channel.
-Also noted is the price having recently traded back above it's 200-day simple moving average. The current retracement toward the mid-point of the linear regression channel may coincide with a re-test of the 200-day moving average.
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