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The price continues to move in a downtrend, which formed after the price broke through the resistance line 92.93 in November 2020, above which it moved for quite a long time.
After the breakdown of the line, the price moved along the level 92.18. However, at the end of November the price collapsed and broke through this level. And stopped only at the 89.77 support line. The price touched the line and began to grow from it, after which it fixed on it at point 89.42 and started a new growth.
But as it is already clear, after a short growth, the price began to fall again. And I assume that in this way it will work out the second pullback and once again touch the support line at 89.33.
Then it will use the support and start a new growth. Thus, I expect the final target - the resistance line 92.07.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
After the breakdown of the line, the price moved along the level 92.18. However, at the end of November the price collapsed and broke through this level. And stopped only at the 89.77 support line. The price touched the line and began to grow from it, after which it fixed on it at point 89.42 and started a new growth.
But as it is already clear, after a short growth, the price began to fall again. And I assume that in this way it will work out the second pullback and once again touch the support line at 89.33.
Then it will use the support and start a new growth. Thus, I expect the final target - the resistance line 92.07.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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Comments
but before growth, price will go down of 89.33