Everything is going according to the past plan. That is, fixing under the level of 8730, after a decrease to 8400 and a rebound.
But what to expect next days?
The main levels:
9450 - is the support level that was tested three times, so this is a strong level, but you can’t be 100% sure of it, since it was broken and then acted as resistance for a couple of days. But, if buyers can break through it and fix above, then it will provide good support.
8730 - is a fairly strong level of resistance that sellers want to break through and only after breaking through will everyone begin to pay attention to it. But if the price can go below it and fixes below it, then it will signal a flat in the blue lower zone (7880 - 8800).
8440 - the local level of resistance, but there is a chance to pushing up from him. Most likely it will be visible by volume .
7880 - local support level . Why local? Because it works on consolidation from 09.26.2019 to 10.20.2019 and it was broken by a powerful impulse. At this level, you definitely need to pay attention, since there is a chance to test it again.
7400 - a global level of support, respectively, a very strong level. He had a strong buyer, after which there was a strong impulse from this level, because of which he can rightly be called a strong one.
Indicators:
Firstly, the CCI indicator is unloaded, that is, it walks for 9 days at the level of -100. Therefore, most likely there will be a breakdown of -100 up, after which the price will go higher.
Also, MA 14 and MA 28 will cross soon, which will hint about a downtrend, since MA 28 will be above MA 14. An important point is that if MA 28 is above the chart, the trend will be exactly down.
What to expect?
If the price rebounds from the level of 8400 and the breakdown is 8730 (ideally, the price should be fixed above it, so that the price can find new support), then it will grow to 9000-9450. And when breaking through the level of 9450 and fixing the price higher, there will be a big increase in the price to 10,000.
But if the price breaks through 8400 and fixes below this level, then this will be a reason for the price to go to 8200-7880.
But what to expect next days?
The main levels:
9450 - is the support level that was tested three times, so this is a strong level, but you can’t be 100% sure of it, since it was broken and then acted as resistance for a couple of days. But, if buyers can break through it and fix above, then it will provide good support.
8730 - is a fairly strong level of resistance that sellers want to break through and only after breaking through will everyone begin to pay attention to it. But if the price can go below it and fixes below it, then it will signal a flat in the blue lower zone (7880 - 8800).
8440 - the local level of resistance, but there is a chance to pushing up from him. Most likely it will be visible by volume .
7880 - local support level . Why local? Because it works on consolidation from 09.26.2019 to 10.20.2019 and it was broken by a powerful impulse. At this level, you definitely need to pay attention, since there is a chance to test it again.
7400 - a global level of support, respectively, a very strong level. He had a strong buyer, after which there was a strong impulse from this level, because of which he can rightly be called a strong one.
Indicators:
Firstly, the CCI indicator is unloaded, that is, it walks for 9 days at the level of -100. Therefore, most likely there will be a breakdown of -100 up, after which the price will go higher.
Also, MA 14 and MA 28 will cross soon, which will hint about a downtrend, since MA 28 will be above MA 14. An important point is that if MA 28 is above the chart, the trend will be exactly down.
What to expect?
If the price rebounds from the level of 8400 and the breakdown is 8730 (ideally, the price should be fixed above it, so that the price can find new support), then it will grow to 9000-9450. And when breaking through the level of 9450 and fixing the price higher, there will be a big increase in the price to 10,000.
But if the price breaks through 8400 and fixes below this level, then this will be a reason for the price to go to 8200-7880.