we see a huge fall after 2018 falling as far as 79%, price is rejected at support which was formed back in 2014-2015.
Moral of the story : we check history to forecast present!!
Some Ethics :
1. resistance breakout after long span of time (3 years)
2. target identified as the previous range between S\R levels
3. 346-357 was the resistance range since 2018 may act as strong support in upcoming event
4. I used super-trend to check if price continuation persist on same level
Marking multiple levels based on previous rejection and price retest
1. 628.05 - 659.90 as resistance range
2. 515.85 - 551 as support range
3. recent rejection from 446, price hits target of 515 which was it's previous support (acting resistance level)
4. With the rejection on resistance we also see a shooting star formation of approx. 4% with which we consider a fall with size of candle.
5. But, in last session we saw a momentum, price peaked up but did not resist at resistance and fell by 4.7%
If we consider previous S\R levels on basis of fall and rise, we can assume that it may fall by more 3-4% and we may see short covering at this level @ 483 and may see upper levels of 515 to 551.
Personal views only, please do your own research ->
Let's see if movement goes along
