Estimating a sideways movement in the daily time frame
Daily Time frame:
Normal Resistance at 39,200
EMA 200 Resistance 41,387
Support 34,590 | 29,975 | 24,000
Mental support at 30K
In the weekly, we are sitting in the EMA 50 Support 33,470.
If we close below 33,470k in the weekly then we might see a drop to 24K.
Currently downtrend until we can get back up above 50K
If we just reached 48K to 49K, we might see this as WAVE ABC wherein A is 30K, B is 49K and C at 24K estimation
Daily Time frame:
Normal Resistance at 39,200
EMA 200 Resistance 41,387
Support 34,590 | 29,975 | 24,000
Mental support at 30K
In the weekly, we are sitting in the EMA 50 Support 33,470.
If we close below 33,470k in the weekly then we might see a drop to 24K.
Currently downtrend until we can get back up above 50K
If we just reached 48K to 49K, we might see this as WAVE ABC wherein A is 30K, B is 49K and C at 24K estimation
Comment:
Love how it bounced at the support 34,590 as indicated :)