Right now bears are up for it !!. Today was the first day that tested out the support. 2h,3h and 4h charts show pretty much same bearish pattern. However when it touches the resistance number 2 it's going most likely to bounce.
RSI supports the bear trend, negative momentum has set up for it as well.
Fibbonacci's lines show the possible retracement the market could follow. In my opinion, anything within the range noted on the chart will be a nice move.
Support 1: 988,65
Support 2: 904,23
Support 3: 777,61
PD: I have to remember that once the beartrend touches a solid bottom which is likely to accomplish in this range we will see a progressive move creating a new bull market with a potential target above 1200.
I hope you find this useful , I'd like to hear what are your thoughts .!!
Legal disclaimer: This is just my opinion not a trading advice.
Good luck !
RSI supports the bear trend, negative momentum has set up for it as well.
Fibbonacci's lines show the possible retracement the market could follow. In my opinion, anything within the range noted on the chart will be a nice move.
Support 1: 988,65
Support 2: 904,23
Support 3: 777,61
PD: I have to remember that once the beartrend touches a solid bottom which is likely to accomplish in this range we will see a progressive move creating a new bull market with a potential target above 1200.
I hope you find this useful , I'd like to hear what are your thoughts .!!
Legal disclaimer: This is just my opinion not a trading advice.
Good luck !