Midterm forecast: - While the price is above the support 1901.20, resumption of uptrend is expected.
- We make sure when the resistance at 2075.05 breaks.
- If the support at 1901.20 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis: - The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
- While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
- A peak is formed in daily chart at 1991.10 on 09/01/2020, so more losses minimum to Major Support (1901.20) is expected.
- Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
- Relative strength index (RSI) is 51.
Supports and Resistances: - 1660.25
- 1611.25
- Support on 04/06/2020
- Support on 03/30/2020
- Support on 03/27/2020
- Support on 03/26/2020
- Support on 03/25/2020
- Support on 02/20/2020
- Resistance on 03/25/2013
- Resistance on 03/18/2013
- Resistance on 02/20/2013
- Resistance on 02/19/2013
- Resistance on 02/18/2013
- 1549.15
- Support on 03/24/2020
- Resistance on 03/18/2020
- Resistance on 03/17/2020
- Support on 02/05/2020
- Support on 02/04/2020
- Support on 01/22/2020
- Support on 01/21/2020
- Support on 01/17/2020
- Support on 01/16/2020
- Support on 01/10/2020
- Support on 01/09/2020
- Resistance on 09/03/2019
- Resistance on 08/29/2019
- Resistance on 08/26/2019
- Support on 04/05/2013
- Support on 04/04/2013
- Support on 04/03/2013
Click on the level to view price action history. |