200 MA on the 4h chart turned out to be a really strong support (currently at ~7580). Just few minutes ago it was tested again. If we loose this level, we are going to accelerate down since there is no support. It's open air utill 6-6.5k area.
What about resistance? Level at 7900 is a really tough resistance. The next strong resistance is at 8200.
There is some room for upside in case we break out back to 8200, but that still will be within the bear trend.
We can expect a bounce up to 8200 and that's a good selling opportunity.
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What about resistance? Level at 7900 is a really tough resistance. The next strong resistance is at 8200.
There is some room for upside in case we break out back to 8200, but that still will be within the bear trend.
We can expect a bounce up to 8200 and that's a good selling opportunity.
If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss our updates.
The information given is never financial advice. Always do your own research.
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