Analysis explanation to come. Anyway, short term:
On daily Lost 50SMA (yellow), 21EMA daily (green) acting as support, also on 50sma on 4 hour.
I get back long if: If we recover and close over 23,500 on any timeframe daily+ there's a good change we reach the 25k-28k range. Which happens to be the 100 day sma.
The 200 daily is moving quickly from 33k towards 31k so I expect that to be the far resistance.
Leaning: On the downside, here's what we're looking for a key price levels. 21,600 is where bets are off for continue July rally.
Sideways is in play again but 19,800 down to 16,300 is all valid.
Let's hope we see 28K then range 25K-33K, but not likely.
On daily Lost 50SMA (yellow), 21EMA daily (green) acting as support, also on 50sma on 4 hour.
I get back long if: If we recover and close over 23,500 on any timeframe daily+ there's a good change we reach the 25k-28k range. Which happens to be the 100 day sma.
The 200 daily is moving quickly from 33k towards 31k so I expect that to be the far resistance.
Leaning: On the downside, here's what we're looking for a key price levels. 21,600 is where bets are off for continue July rally.
Sideways is in play again but 19,800 down to 16,300 is all valid.
Let's hope we see 28K then range 25K-33K, but not likely.
