Context:
price is still in a decline as seen on the series of lower highs and lows , we currently trade at
the 50% mark of the last downswing + near the supplyline , if price breaks this level we might
test the brokne support now resistance at 58115 again . any rejection at this level will bring us down to 56750 respectively 55600
Trading opportunities:
Long:
breakout + pullback at 57350 50% mark
reversal at minor support 56750
short:
reversal at supplyline respectively the 50% mark at 57350
reversal at broken support now resistance 58115
Signs of strength:
minor support
Signs Of weakness:
downtrend
Support:
56750
55600
Resistance:
57350
58115
invezted.com
price is still in a decline as seen on the series of lower highs and lows , we currently trade at
the 50% mark of the last downswing + near the supplyline , if price breaks this level we might
test the brokne support now resistance at 58115 again . any rejection at this level will bring us down to 56750 respectively 55600
Trading opportunities:
Long:
breakout + pullback at 57350 50% mark
reversal at minor support 56750
short:
reversal at supplyline respectively the 50% mark at 57350
reversal at broken support now resistance 58115
Signs of strength:
minor support
Signs Of weakness:
downtrend
Support:
56750
55600
Resistance:
57350
58115
invezted.com
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