The previous week could not reach the high of the week before. This was a hint that the bullish momentum is slowing down. The price reaction this week has confirmed this bias as the attempt to reached this high again has been sold immediately.
This high seems to become an important resistance zone as it was a support zone for half a year from March to September 2022 and even a several times tested support/resistance zone for 2 years from December 2020 until November 2022.
I see good chances therefor that this will defend its importance this time again.
This high seems to become an important resistance zone as it was a support zone for half a year from March to September 2022 and even a several times tested support/resistance zone for 2 years from December 2020 until November 2022.
I see good chances therefor that this will defend its importance this time again.
Trade closed: target reached