We have a top area in the 1734 / 1743 zone. 1701 lies right ahead of 1692
1692 is a critical level that can signal a medium term reversal which can go as steep as 1489.
Time axis has shown exhaustion as a major range time has squared. Medium range time has
also squared and normally a change in trend occurs within 81 - 84 weeks.
Currently 571 days from 1160 on 9th March 2020 is 81.5 weeks.
A double top on the 0.618 range extension of 1046 base value adds more signal that a medium term change in trend is underway.
Price could start a decline from this level or if 1743 occurs within the 3rd week in March, a sell signal might occur.
1046.33 * 0.382 = 399.69
1046 + 399.69 = 1446.03
1046.33 * 0.5 = 523.16
1046.33 + 523.16 = 1569.49
1046.33 * 0.618 = 646
1046.33 + 646.63 = 1692.96 (Price currently in this range)
Trade wisely and don't get caught up in the glitter
1692 is a critical level that can signal a medium term reversal which can go as steep as 1489.
Time axis has shown exhaustion as a major range time has squared. Medium range time has
also squared and normally a change in trend occurs within 81 - 84 weeks.
Currently 571 days from 1160 on 9th March 2020 is 81.5 weeks.
A double top on the 0.618 range extension of 1046 base value adds more signal that a medium term change in trend is underway.
Price could start a decline from this level or if 1743 occurs within the 3rd week in March, a sell signal might occur.
1046.33 * 0.382 = 399.69
1046 + 399.69 = 1446.03
1046.33 * 0.5 = 523.16
1046.33 + 523.16 = 1569.49
1046.33 * 0.618 = 646
1046.33 + 646.63 = 1692.96 (Price currently in this range)
Trade wisely and don't get caught up in the glitter