Midterm forecast: While the price is below the resistance 2075.05, beginning of downtrend is expected. We make sure when the support at 1790.00 breaks. If the resistance at 2075.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis: While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low. A peak is formed in daily chart at 1931.40 on 10/21/2020, so more losses to support(s) 1851.00, 1817.75 and minimum to Major Support (1790.00) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 44.
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and other side its LIKE head and shoulder. do you see that on daily chart ?
ForecastCity
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@farshiedccm, Thanks for your kind comment. 💎🙏💎 Please read the Technical analysis section above.
naght_Hunter
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hello. i see rsi level in very import suuport. if we draw low to low rsi in weekly support. macd histogram in correction wave but macd line is up, its mean we have a correction pattern like triangle or range pattern my oppenion : if we pass 1910 its signal on daily chart because 1910 is very import resistance on daily chart. what do you think my friend ?
ForecastCity
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@farshiedccm, Thanks for sharing your point of view.