Context:
After breaking the major downtrendline , price made a steady advanced with increased buying pressure
as seen on the lenght/stride and pace of the rallies compared to the reactions , the current rally brought us
to the 50% retracement level of the downtrend at 58800 which is a major keylevel , if we break this level to the upside
with a nice follow thru , we can speak of a strong bullish market. any rejection plus a break of the demandline
will bring us back to the 50% level of 52500
Signs of strength:
broken supplyline
strong rallies
Signs Of weakness:
downtrend
Support:
55500
52500
49000
Resistance:
58800
60000
62120
www.invezted.com
After breaking the major downtrendline , price made a steady advanced with increased buying pressure
as seen on the lenght/stride and pace of the rallies compared to the reactions , the current rally brought us
to the 50% retracement level of the downtrend at 58800 which is a major keylevel , if we break this level to the upside
with a nice follow thru , we can speak of a strong bullish market. any rejection plus a break of the demandline
will bring us back to the 50% level of 52500
Signs of strength:
broken supplyline
strong rallies
Signs Of weakness:
downtrend
Support:
55500
52500
49000
Resistance:
58800
60000
62120
www.invezted.com
