1. It looks prices are suffering from medium down trend effect after hitting the $113.1x limit which is said as resistant level according to Fib pattern. Failing to break this level made prices fall quickly to break the pivot line but the good thing that get a nice support from $107.2x level to keep the prices inside the major resistant (red) zone and keeping the uptrend state of prices since 16/03/22.
2. The neutral state in trading momentum described by volume indicator which achieve medium falling at 14.182k and 11.508k last two hours. I think the momentum will keep calm for today as the prices need first to break the resistance from EMA50 (blue curve). Successful break of EMA50 is not only bulls role as they need to exist the resistance performed from VWAP (white curve) and previously double top level @ $110.1x. Bulls must increase the growing volume of trades (green column formation on volume chart) at least to medium levels to fluctuate around VWAP and perform a new up-trending.
3. The general interpretation indicates that prices try to hold state inside the major resistant zone and waiting for bulls activity to pull up prices again.
4. At the moment, prices are getting strong support above $107.2x and fixed medium resistant from $110.1x. The target is to pass the testing zone and re-hit the $113.1x limit @ 50% level.
Tools used in analysis are BB indicator, Fib pattern, double top indicator, MA ribbon, volume, and VWAP.
2. The neutral state in trading momentum described by volume indicator which achieve medium falling at 14.182k and 11.508k last two hours. I think the momentum will keep calm for today as the prices need first to break the resistance from EMA50 (blue curve). Successful break of EMA50 is not only bulls role as they need to exist the resistance performed from VWAP (white curve) and previously double top level @ $110.1x. Bulls must increase the growing volume of trades (green column formation on volume chart) at least to medium levels to fluctuate around VWAP and perform a new up-trending.
3. The general interpretation indicates that prices try to hold state inside the major resistant zone and waiting for bulls activity to pull up prices again.
4. At the moment, prices are getting strong support above $107.2x and fixed medium resistant from $110.1x. The target is to pass the testing zone and re-hit the $113.1x limit @ 50% level.
Tools used in analysis are BB indicator, Fib pattern, double top indicator, MA ribbon, volume, and VWAP.