A drop under 130. On SOS Would be an important thing to happens since it would give us signs that the movement down to the 126. Area has in fact started. And it would make us aim at the 128. Zone as next secure profit target and as well 126. From a break under 128. On maintained boosted supply.
MONTHLY; - Rejection at the touch of 134. Around 2 months ago & closed at the area with a stop in action.
The last time that price went to 134. Was in January 2021, making it price digging slowly an important distance to the downside ( 117 area).
WEEKLY; - Supply has been in charge of the volume ever since the weekly candle close of the 24th June 2021.
DAILY; - Ever since it reached the 134. Area in May’21 we have seen a drop of the zone following a nice supply trend line that price followed and got rejected from on important supply around 4-5 times.
Which is all moving in harmony, from the price making LL on heavy supply to the demand weakening on retracement, but even when it would reach 130., it would be more secure to add position or to hold the ones open unless it would break under the area on a SOS, since 130. Showed being an important support area many times in the past.
4 HOURS; Rejected 131. On heavy supply just after breaking under the area
So for now our next target would be 130. As secure take profit, and depending how it reacts there we could consider 128. And even 126. If we would have a break on maintened supply under 128.
MONTHLY; - Rejection at the touch of 134. Around 2 months ago & closed at the area with a stop in action.
The last time that price went to 134. Was in January 2021, making it price digging slowly an important distance to the downside ( 117 area).
WEEKLY; - Supply has been in charge of the volume ever since the weekly candle close of the 24th June 2021.
DAILY; - Ever since it reached the 134. Area in May’21 we have seen a drop of the zone following a nice supply trend line that price followed and got rejected from on important supply around 4-5 times.
Which is all moving in harmony, from the price making LL on heavy supply to the demand weakening on retracement, but even when it would reach 130., it would be more secure to add position or to hold the ones open unless it would break under the area on a SOS, since 130. Showed being an important support area many times in the past.
4 HOURS; Rejected 131. On heavy supply just after breaking under the area
So for now our next target would be 130. As secure take profit, and depending how it reacts there we could consider 128. And even 126. If we would have a break on maintened supply under 128.