After the rejection from the 4000.0 area near the weekly critical zone, we saw a strong support breaking through the next weekly critical zone near 5500.0 and the daily critical near 8500.0.
Right now, the price is in a consolidation and pretty soon a strong move will happen. From a technical perspective our next goal will be the 10000.0 mark.
After it is reached most likely the sell pressure won’t be enough to resist, because this is the zone with the most breakout attempts for the past year. This will result for a move towards 12000.0 where we will finally see some power from the bear, since we are crossing over a weekly critical zone. They will push the price down to the 10000.0 where we will find support and a possible move towards the 14000.0 may take place.
Happy Trading!
Right now, the price is in a consolidation and pretty soon a strong move will happen. From a technical perspective our next goal will be the 10000.0 mark.
After it is reached most likely the sell pressure won’t be enough to resist, because this is the zone with the most breakout attempts for the past year. This will result for a move towards 12000.0 where we will finally see some power from the bear, since we are crossing over a weekly critical zone. They will push the price down to the 10000.0 where we will find support and a possible move towards the 14000.0 may take place.
Happy Trading!