because of demand
15 march it fell because it was weak - 13-15 march was selling
Now it is down trend (global is bullish ofcourse). And on 16-17 it met resistance. No bullish moves, so it is weak. But it didn't fall because of demand (up move on low volume). So It is weak now also there was several upthrusts lately.
In order to fall further it had to step up to fullfill demand first.
I anticipate decline if no demand is forseen until 53-54. From there will squeeze longs, so you get the picture.
Supply zone: 59-60.
Now it is down trend (global is bullish ofcourse). And on 16-17 it met resistance. No bullish moves, so it is weak. But it didn't fall because of demand (up move on low volume). So It is weak now also there was several upthrusts lately.
In order to fall further it had to step up to fullfill demand first.
I anticipate decline if no demand is forseen until 53-54. From there will squeeze longs, so you get the picture.
Supply zone: 59-60.
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