November over, we were looking for a return to 24000 range (~24074)
November showed us that it is finding support around 24450.
December can see a retest of that level.
Especially if the market is waiting for the 21 EMA to catch up with it.
November showed us that it is finding support around 24450.
December can see a retest of that level.
Especially if the market is waiting for the 21 EMA to catch up with it.
Note
I've mentioned previously that 24400 is the floor. If this doesn't hold. The next floor is at 23360.24000 has been test three times. It has often been said by traders and analysts alike, "rarely do things survive the third hit". I am anticipating it to break and all of 2018 to be reversed out. I am anticipating a return to 23300 with a test of that level (and possible failure).
If it fails, that green bar on the chart is the next support level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.