We see a small bullish rally again after breaking out of a downward trend.
This rally is reaching an important convergence between the 1940 resistance and 1940 downward trendline of the May 4 2079 all-time high. This major trendline has been respected 5 times before sending the price further down again.
In the coming days, this will be an important decider if the prices continue to bounce off this major resistance once more, signifying another bearish rally on the horizon.
1935-1940 SELL
TP 1900
SL 1953
This rally is reaching an important convergence between the 1940 resistance and 1940 downward trendline of the May 4 2079 all-time high. This major trendline has been respected 5 times before sending the price further down again.
In the coming days, this will be an important decider if the prices continue to bounce off this major resistance once more, signifying another bearish rally on the horizon.
1935-1940 SELL
TP 1900
SL 1953
Comment:
As predicted, trend line resistance was respected, and the short-term bull rally trend was broken. We can expect a downward rally to the 1920 and 1900 levels.