As you can see, the price tried to break the resistance level of 1600.7 three times and failed to turn this level into a support three times because the correct failure did not happen.
@Nuel_tech, The current Symbol trend is downward and can be drawn in a downward channel (from Tue 06 Dec 2022 17:30). And until it does not break the price of 1508.8 in the correct way, the trend of the Symbol is still downward.
This level is important for the price in several ways: 1 - Intersection with the downward trend line (from Wed 07 Dec 2022 15:45) 2 - Intersection with the ceiling of the descending channel
And the probability level for price return: The price range is 1405.2 to 1372.4.
alidashtbesh
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@Nuel_tech, The price was supported by the middle line of the descending channel, and the descending trend line is said to have broken the level of 1508.8 with a candle and even went up to 1563.3, but it could not maintain it, and the price declined again, but the descending trend line here plays a good supporting role. played and prevented the price from falling twice and the price from falling from the trend line. Still, the price of 1508.8 plays the role of resistance.
alidashtbesh
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@Nuel_tech, Do you see how the ceiling of the descending channel plays the role of support for the price?