Midterm forecast: - While the price is above the support 7446.80, resumption of uptrend is expected.
- We make sure when the resistance at 9243.50 breaks.
- If the support at 7446.80 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis: - The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
- While the RSI downtrend #1 is not broken, bearish wave in price would continue.
- A trough is formed in daily chart at 7767.40 on 10/07/2019, so more gains to resistance(s) 8200.00 and maximum to Major Resistance (9243.50) 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 39.
Supports and Resistances: - 19704.20
- 13737.50
- 12688.90
- Resistance on 07/10/2019
- Resistance on 07/09/2019
- 11247.05
- Support on 08/12/2019
- Support on 08/11/2019
- Support on 08/10/2019
- Support on 08/07/2019
- Resistance on 07/14/2019
- Support on 07/08/2019
- Support on 07/07/2019
- Support on 07/04/2019
- Support on 06/30/2019
- Resistance on 06/24/2019
- Resistance on 06/23/2019
- Resistance on 06/22/2019
- Resistance on 03/02/2018
- Resistance on 02/19/2018
- Resistance on 02/18/2018
- Support on 01/29/2018
- Support on 01/28/2018
- Resistance on 01/26/2018
- Resistance on 01/24/2018
- 10404.45
- Resistance on 09/19/2019
- Resistance on 09/17/2019
- Resistance on 09/16/2019
- Resistance on 09/13/2019
- Resistance on 09/12/2019
- Resistance on 09/10/2019
- Resistance on 09/09/2019
- Resistance on 09/02/2019
- Resistance on 08/27/2019
- Resistance on 08/26/2019
- Resistance on 08/24/2019
- Resistance on 08/23/2019
- Resistance on 08/18/2019
- Resistance on 08/17/2019
- Resistance on 08/16/2019
- Resistance on 08/15/2019
- Resistance on 08/02/2019
- Resistance on 08/01/2019
- Resistance on 07/23/2019
- Support on 07/21/2019
- Support on 07/20/2019
- Support on 07/19/2019
- Support on 07/15/2019
- Support on 07/14/2019
- Support on 07/02/2019
- Support on 07/01/2019
- Support on 06/28/2019
- Support on 06/27/2019
- Support on 06/23/2019
- Support on 03/01/2018
- Resistance on 02/26/2018
- Resistance on 02/24/2018
- Resistance on 02/23/2018
- Resistance on 02/22/2018
- Support on 02/19/2018
- Resistance on 02/01/2018
- Support on 01/26/2018
- Support on 01/24/2018
- 9243.50
- Support on 07/29/2019
- Support on 07/27/2019
- Support on 07/18/2019
- Support on 07/17/2019
- Resistance on 06/19/2019
- Resistance on 06/16/2019
- Support on 05/07/2018
- Resistance on 05/02/2018
- Resistance on 04/27/2018
- Resistance on 04/26/2018
- Resistance on 03/21/2018
- Resistance on 03/14/2018
- Support on 03/08/2018
- Support on 02/26/2018
- Support on 02/25/2018
- Support on 02/24/2018
- Support on 02/15/2018
- Resistance on 02/04/2018
- Resistance on 02/03/2018
- Support on 02/01/2018
- 8200.00
- Support on 10/14/2019
- Support on 10/13/2019
- Support on 10/12/2019
- Resistance on 10/06/2019
- Support on 10/02/2019
- Support on 10/01/2019
- Support on 09/25/2019
- Support on 09/24/2019
- Support on 06/14/2019
- Resistance on 06/12/2019
- Support on 05/31/2019
- Resistance on 05/24/2019
- Resistance on 05/20/2019
- Resistance on 05/16/2019
- Resistance on 05/15/2019
- Resistance on 05/14/2019
- Resistance on 07/31/2018
- Resistance on 07/30/2018
- Resistance on 07/29/2018
- Resistance on 07/26/2018
- Support on 05/20/2018
- Support on 05/19/2018
- Support on 05/16/2018
- Support on 05/14/2018
- Support on 05/12/2018
- Support on 04/20/2018
- Resistance on 04/18/2018
- Resistance on 04/17/2018
- Resistance on 04/14/2018
- Resistance on 04/13/2018
- Support on 03/23/2018
- Support on 03/20/2018
- Support on 03/16/2018
- Support on 03/15/2018
- Support on 03/14/2018
- Support on 02/12/2018
- Support on 02/11/2018
- Support on 02/10/2018
- Resistance on 02/08/2018
- Resistance on 02/07/2018
- Resistance on 02/05/2018
- Support on 02/03/2018
- Support on 02/02/2018
- Support on 11/25/2017
- Resistance on 11/23/2017
- Resistance on 11/22/2017
- 6094.35
- Resistance on 05/06/2019
- Resistance on 05/05/2019
- Resistance on 05/04/2019
- Resistance on 05/03/2019
- Support on 09/19/2018
- Support on 09/11/2018
- Support on 09/09/2018
- Support on 09/08/2018
- Support on 08/13/2018
- Support on 08/12/2018
- Support on 08/11/2018
- Support on 08/10/2018
- Support on 08/08/2018
- Support on 07/14/2018
- Support on 07/13/2018
- Support on 07/12/2018
- Resistance on 06/29/2018
- Support on 06/27/2018
- Support on 06/26/2018
- Support on 06/25/2018
- Support on 06/24/2018
- Support on 06/13/2018
- Support on 02/06/2018
- Support on 10/31/2017
- Support on 10/30/2017
- Resistance on 10/20/2017
- 5700.00
- Support on 05/03/2019
- Support on 11/14/2018
- Support on 06/29/2018
- Support on 06/24/2018
- Support on 11/13/2017
- Support on 10/27/2017
- Resistance on 10/25/2017
- Resistance on 10/19/2017
- Resistance on 10/17/2017
- Resistance on 10/16/2017
- Resistance on 10/13/2017
- 5245.00
- Support on 04/26/2019
- Support on 04/22/2019
- Resistance on 04/16/2019
- Resistance on 04/07/2019
- Resistance on 04/06/2019
- Support on 10/18/2017
- 4409.80
- Resistance on 12/24/2018
- Resistance on 11/29/2018
- Resistance on 11/28/2018
- Resistance on 11/24/2018
- Support on 11/21/2018
- Support on 11/20/2018
- Resistance on 10/06/2017
- Resistance on 10/03/2017
- Resistance on 10/02/2017
- Support on 09/06/2017
- Resistance on 08/25/2017
- Resistance on 08/17/2017
- Resistance on 08/15/2017
- 4189.00
- Resistance on 04/01/2019
- Resistance on 03/31/2019
- Resistance on 03/30/2019
- Resistance on 03/29/2019
- Resistance on 01/09/2019
- Resistance on 01/08/2019
- Resistance on 01/07/2019
- Resistance on 01/06/2019
- Resistance on 12/25/2018
- Resistance on 12/24/2018
- Resistance on 12/23/2018
- Resistance on 12/21/2018
- Resistance on 12/20/2018
- Resistance on 11/26/2018
- Resistance on 11/25/2018
- Support on 11/23/2018
- Support on 10/05/2017
- Support on 10/04/2017
- Resistance on 09/29/2017
- Resistance on 09/28/2017
- Resistance on 09/27/2017
- Resistance on 09/13/2017
- Support on 09/08/2017
- Support on 09/05/2017
- Support on 09/04/2017
- Support on 08/28/2017
Click on the level to view price action history. |