Context:
Price attempted a rallie off the demandline from the upchannel , and we broke out the minor downchannel
however price rejected the 50% level of 77600 , which should be considered weak, price currently
is on its way to test the minor support/demandline at 76930 , if bulls step up at this level , we migh tthest the 50%
mark again . any break of this minor support and we are back in the downtrend.
Trading opportunities:
Long:
Reversal at minor support / demandline at 76930
Short:
Reversal at or near the 50% mark of 77600 - Lower high
breakdown of support / deamdnline at 76930 + retracement
Signs of strength:
rally off demandline
upchannel
Signs Of weakness:
downtrend
rejection of 50% mark
Support:
76930
76400
Resistance:
77600
7793 (mean)
ww.invezted.com
Price attempted a rallie off the demandline from the upchannel , and we broke out the minor downchannel
however price rejected the 50% level of 77600 , which should be considered weak, price currently
is on its way to test the minor support/demandline at 76930 , if bulls step up at this level , we migh tthest the 50%
mark again . any break of this minor support and we are back in the downtrend.
Trading opportunities:
Long:
Reversal at minor support / demandline at 76930
Short:
Reversal at or near the 50% mark of 77600 - Lower high
breakdown of support / deamdnline at 76930 + retracement
Signs of strength:
rally off demandline
upchannel
Signs Of weakness:
downtrend
rejection of 50% mark
Support:
76930
76400
Resistance:
77600
7793 (mean)
ww.invezted.com