Context:
The retest of the swing high near the 50% retracement level of 12700 failed and
we formed a lower high , the reaction drove price to the 50% retracement mark
of 11150 , where price found minor support , a retest of the swing high at 12200
will only happen if we take out the minor resistance at 11500 , a breakdown of the
11150 level will bring us back down to the lows of 10000 .
Signs of strength:
minor support at 50% mark
Signs Of weakness:
rejected 50% mark
lower high
Support:
11150
10000
Resistance:
11500
12200
www.invezted.com
The retest of the swing high near the 50% retracement level of 12700 failed and
we formed a lower high , the reaction drove price to the 50% retracement mark
of 11150 , where price found minor support , a retest of the swing high at 12200
will only happen if we take out the minor resistance at 11500 , a breakdown of the
11150 level will bring us back down to the lows of 10000 .
Signs of strength:
minor support at 50% mark
Signs Of weakness:
rejected 50% mark
lower high
Support:
11150
10000
Resistance:
11500
12200
www.invezted.com