Since my past analysis fulfills itself well, with a rollback to the consolidation zone 8650. Now the picture can be supplemented and revived.
First, let's look at the levels:
9430 is the support level that was tested three times, so this is a strong level, but you can’t be 100% sure of it, since it was broken and then acted as resistance for a couple of days. But, if buyers can break through it and fix above, then it will provide good support.
8730 is a fairly strong level of resistance that sellers want to break through and only after breaking through will everyone begin to pay attention to it. But if the price can go below it and fixes below it, then it will signal a flat in the blue lower zone (7880 - 8800).
7880 - local support level. Why local? Because it works on consolidation from 09.26.2019 to 10.20.2019 and it was broken by a powerful impulse. At this level, you definitely need to pay attention, since there is a chance to test it again.
7400 - a global level of support, respectively, a very strong level. He had a strong buyer, after which there was a strong impulse from this level, because of which he can rightly be called a strong one. It must be clearly remembered!
And so, we figured out the levels, but what next?
According to my strategy, MA 14 (orange) and MA 28 (violet) play a big role, which you now pay attention to. I previously made a continuation of them. Three important moments that I want to note - this is the corridor between them, the intersection and their location above / below the graph.
Now the price is in the corridor between MAs, that is, there will be no bright action. Since MA 28 is below the graph and MA 14 and MA 28 are globally directed upwards, this indicates a set of positions. In addition, the price was fixed above the level of 8730.
Conclusion:
Relying on my analysis, I see a picture with a retest to the level of 9000. After which the price will go into the zone of the previous consolidation, will move there in a small flat and look for a local level of support. There will also be the intersection of MA 14 and MA 28, approximately from November 13, 2019 - November 18, 2019.
But, if buyers can sell the price below 8730 and can fix there, the scenario is this: flat in the yellow zone (7880-8800) with a decrease in price to 8400-8200. There will be a set of positions and volumes will most likely appear.
First, let's look at the levels:
9430 is the support level that was tested three times, so this is a strong level, but you can’t be 100% sure of it, since it was broken and then acted as resistance for a couple of days. But, if buyers can break through it and fix above, then it will provide good support.
8730 is a fairly strong level of resistance that sellers want to break through and only after breaking through will everyone begin to pay attention to it. But if the price can go below it and fixes below it, then it will signal a flat in the blue lower zone (7880 - 8800).
7880 - local support level. Why local? Because it works on consolidation from 09.26.2019 to 10.20.2019 and it was broken by a powerful impulse. At this level, you definitely need to pay attention, since there is a chance to test it again.
7400 - a global level of support, respectively, a very strong level. He had a strong buyer, after which there was a strong impulse from this level, because of which he can rightly be called a strong one. It must be clearly remembered!
And so, we figured out the levels, but what next?
According to my strategy, MA 14 (orange) and MA 28 (violet) play a big role, which you now pay attention to. I previously made a continuation of them. Three important moments that I want to note - this is the corridor between them, the intersection and their location above / below the graph.
Now the price is in the corridor between MAs, that is, there will be no bright action. Since MA 28 is below the graph and MA 14 and MA 28 are globally directed upwards, this indicates a set of positions. In addition, the price was fixed above the level of 8730.
Conclusion:
Relying on my analysis, I see a picture with a retest to the level of 9000. After which the price will go into the zone of the previous consolidation, will move there in a small flat and look for a local level of support. There will also be the intersection of MA 14 and MA 28, approximately from November 13, 2019 - November 18, 2019.
But, if buyers can sell the price below 8730 and can fix there, the scenario is this: flat in the yellow zone (7880-8800) with a decrease in price to 8400-8200. There will be a set of positions and volumes will most likely appear.
