Context:
the current rally brought us to the resistance level 1458 , wehre price made a minor reaction
but price found support at @14200 on the tokio session , any further rejection of resistance
will move price to at least @13780 a middlpoint of a small range area , the sooner the bulls step in ,
the stronger the market has to be judged and any higher lows during each rejection , indicate "absorbtion"
of the remaing supply and a breakout of resistance is likely to happen , however any breach of the demandlines
should be considered weak and a deep correction to the support levels may emerge,
signs of strenght :
uptrend
strong buying pressure
signs of weakness:
tested resistance
the current rally brought us to the resistance level 1458 , wehre price made a minor reaction
but price found support at @14200 on the tokio session , any further rejection of resistance
will move price to at least @13780 a middlpoint of a small range area , the sooner the bulls step in ,
the stronger the market has to be judged and any higher lows during each rejection , indicate "absorbtion"
of the remaing supply and a breakout of resistance is likely to happen , however any breach of the demandlines
should be considered weak and a deep correction to the support levels may emerge,
signs of strenght :
uptrend
strong buying pressure
signs of weakness:
tested resistance
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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.
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.