Midterm forecast: - While the price is above the support 26.50, beginning of uptrend is expected.
- We make sure when the resistance at 80.10 breaks.
- If the support at 26.50 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis: - The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
- There is a divergence in RSI and price between the trough at 47.6 on 2019-08-17 and the trough at 43.8 on 2019-08-29, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
- The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
- A trough is formed in daily chart at 43.80 on 09/01/2019, so more gains to resistance(s) 48.50, 56.15, 63.20 and maximum to Major Resistance (80.10) 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 35.
Take Profits: - 56.15
- Resistance on 08/14/2019
- Support on 08/11/2019
- Support on 08/10/2019
- Support on 05/10/2019
- Support on 05/09/2019
- Support on 03/30/2019
- Support on 03/29/2019
- Support on 03/28/2019
- Support on 03/24/2019
- Support on 03/20/2019
- Resistance on 03/18/2019
- Resistance on 03/17/2019
- Resistance on 03/16/2019
- Resistance on 02/22/2019
- Resistance on 02/21/2019
- Resistance on 02/20/2019
- Resistance on 02/19/2019
- Resistance on 02/18/2019
- Resistance on 02/13/2019
- Resistance on 01/20/2019
- Support on 01/12/2019
- Support on 01/01/2019
- Support on 12/31/2018
- Support on 12/28/2018
- Support on 12/27/2018
- Support on 12/20/2018
- Support on 12/19/2018
- Support on 12/18/2018
- Support on 12/10/2018
- Support on 12/07/2018
- 63.20
- Resistance on 08/09/2019
- Support on 08/04/2019
- Support on 07/16/2019
- Resistance on 05/12/2019
- Resistance on 05/11/2019
- Resistance on 05/07/2019
- Support on 05/03/2019
- Resistance on 04/30/2019
- Support on 04/27/2019
- Support on 04/26/2019
- Support on 04/24/2019
- Support on 04/02/2019
- Resistance on 03/20/2019
- Resistance on 01/10/2019
- Resistance on 01/09/2019
- Resistance on 01/08/2019
- Resistance on 01/07/2019
- Resistance on 01/06/2019
- Resistance on 01/05/2019
- Resistance on 12/27/2018
- Support on 12/23/2018
- Resistance on 12/19/2018
- Resistance on 12/10/2018
- Resistance on 12/09/2018
- Resistance on 12/08/2018
- Resistance on 12/07/2018
- 73.65
- Resistance on 07/27/2019
- Support on 07/21/2019
- Support on 07/20/2019
- Support on 07/19/2019
- Support on 07/18/2019
- Resistance on 05/18/2019
- Resistance on 04/10/2019
- Resistance on 04/09/2019
- Resistance on 04/06/2019
- Resistance on 04/05/2019
- Resistance on 12/24/2018
- 80.10
- Resistance on 07/21/2019
- Resistance on 07/20/2019
- Resistance on 07/19/2019
- Resistance on 07/18/2019
- Resistance on 07/16/2019
- Support on 07/14/2019
- Support on 06/08/2019
- Support on 05/31/2019
- Resistance on 05/16/2019
- Resistance on 12/04/2018
- Resistance on 11/28/2018
- Resistance on 11/24/2018
- Support on 11/22/2018
- Support on 11/21/2018
- Support on 11/20/2018
- 91.00
- Resistance on 06/14/2019
- Resistance on 06/13/2019
- Resistance on 06/12/2019
- Resistance on 06/01/2019
- Resistance on 05/30/2019
- Resistance on 11/30/2018
- Resistance on 11/29/2018
- Support on 05/18/2017
- Support on 05/17/2017
- Support on 05/09/2017
- Support on 05/01/2017
- Resistance on 04/28/2017
- 100.65
- Resistance on 07/10/2019
- Support on 07/06/2019
- Support on 07/05/2019
- Support on 07/04/2019
- Support on 07/03/2019
- Support on 07/02/2019
- Support on 07/01/2019
- Support on 06/28/2019
- Support on 06/27/2019
- Resistance on 06/17/2019
- Resistance on 11/20/2018
- Support on 11/15/2018
- Support on 09/12/2018
- 120.70
- Resistance on 06/26/2019
- Support on 11/06/2018
- Support on 11/05/2018
- Support on 10/28/2018
- Support on 10/27/2018
- Support on 10/26/2018
- Support on 10/24/2018
- Support on 10/23/2018
- Support on 10/22/2018
- Support on 10/20/2018
- Resistance on 10/15/2018
- Support on 10/05/2018
- Support on 10/04/2018
- Support on 10/03/2018
- Support on 09/23/2018
- Resistance on 09/20/2018
- Resistance on 09/17/2018
- Resistance on 09/13/2018
- Resistance on 09/11/2018
- Support on 09/06/2018
- Support on 08/31/2018
- Support on 08/23/2018
- Support on 08/14/2018
- 137.55
- Resistance on 11/13/2018
- Resistance on 11/12/2018
- Resistance on 11/10/2018
- Resistance on 11/09/2018
- Resistance on 11/08/2018
- 150.00
- Resistance on 09/24/2018
- Resistance on 08/31/2018
- Resistance on 08/18/2018
- Resistance on 08/17/2018
- Support on 08/12/2018
- Support on 08/11/2018
- Support on 07/13/2018
- Support on 07/12/2018
- Support on 06/29/2018
- Support on 06/24/2018
- 173.40
- Support on 08/07/2018
- Support on 08/06/2018
- Support on 08/03/2018
- Support on 07/21/2018
- Support on 07/16/2018
- Resistance on 07/10/2018
- Resistance on 07/07/2018
- Resistance on 07/06/2018
- Resistance on 07/01/2018
- Resistance on 06/30/2018
- Support on 06/13/2018
- Support on 04/11/2018
- Support on 04/10/2018
- Support on 04/09/2018
- Support on 04/08/2018
- Support on 04/07/2018
- Support on 04/06/2018
- 220.60
- Resistance on 07/31/2018
- Resistance on 07/30/2018
- Resistance on 07/25/2018
- Resistance on 07/24/2018
- Resistance on 07/18/2018
- Support on 05/29/2018
- Support on 04/18/2018
- Resistance on 03/18/2018
- 328.65
- Resistance on 05/23/2018
- Resistance on 05/22/2018
- Resistance on 05/14/2018
- Resistance on 04/24/2018
- Support on 03/07/2018
- Support on 02/07/2018
- Support on 02/04/2018
- Support on 02/02/2018
- Support on 12/22/2017
- Resistance on 12/08/2017
- Resistance on 12/06/2017
- Resistance on 12/05/2017
- Resistance on 12/04/2017
Click on the level to view price action history. |