Rectangle marked where price has been rejected number of times.
Now price has again hovering around the same zone. It is above 200 EMA.
In theory if price keeps testing one level it slowly loses strength and eventually breaks out/down.
If it breaks through with volume another 200 points move expected.
This is just a analysis and no recommendation.
Now price has again hovering around the same zone. It is above 200 EMA.
In theory if price keeps testing one level it slowly loses strength and eventually breaks out/down.
If it breaks through with volume another 200 points move expected.
This is just a analysis and no recommendation.