This resistance has been very strong... The 50MA hasn't been much help of late either... Supporting price, then failing, as well as the 100MA, support followed by failure...
I think the 50MA will provide some support once more and set a higher low between 6590-6650 first.
Conversely if we go up from where we are now, we still need to contend with the 100MA and the 200MA and resistance at 6900 which has been a key price point for a while.
The important thing to note is that either way, I don't see us going "up" yet.
I think the 50MA will provide some support once more and set a higher low between 6590-6650 first.
Conversely if we go up from where we are now, we still need to contend with the 100MA and the 200MA and resistance at 6900 which has been a key price point for a while.
The important thing to note is that either way, I don't see us going "up" yet.