Key Levels:
Support: 2490 to1510
Resistance: 1605 to 1630
Major hurdle: 200 EMA should cross and close above.
Significance of the 200-day Exponential Moving Average (EMA):
1. **Trend Identifier**: The 200 EMA helps traders identify the overall trend of a financial instrument - above it indicates a bullish trend, and below it signals a bearish trend.
2. **Key Support and Resistance**: It acts as a significant level of support (above the EMA) and resistance (below the EMA), attracting buying or selling interest at that level.
3. **Market Psychology**: Due to its popularity among traders, the 200 EMA influences market sentiment, making it more likely to impact price movements.
4. **Confirmation Tool**: Traders use the 200 EMA alongside other indicators to confirm potential reversals or trend continuations, enhancing its reliability.
Remember, while the 200 EMA is a valuable tool, it should be combined with other analysis and risk management strategies for more informed trading decisions.
Support: 2490 to1510
Resistance: 1605 to 1630
Major hurdle: 200 EMA should cross and close above.
Significance of the 200-day Exponential Moving Average (EMA):
1. **Trend Identifier**: The 200 EMA helps traders identify the overall trend of a financial instrument - above it indicates a bullish trend, and below it signals a bearish trend.
2. **Key Support and Resistance**: It acts as a significant level of support (above the EMA) and resistance (below the EMA), attracting buying or selling interest at that level.
3. **Market Psychology**: Due to its popularity among traders, the 200 EMA influences market sentiment, making it more likely to impact price movements.
4. **Confirmation Tool**: Traders use the 200 EMA alongside other indicators to confirm potential reversals or trend continuations, enhancing its reliability.
Remember, while the 200 EMA is a valuable tool, it should be combined with other analysis and risk management strategies for more informed trading decisions.
Trade closed: target reached
Target AchievedTrade active
New Levels are active now
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SuperChartz
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Regards
SuperChartz
telegram.me/SuperChartz
Instagram.com/SuperChartz
facebook.com/SuperChartz
twitter.com/SuperChartz
youtube.com/@SuperChart
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SuperChartz
telegram.me/SuperChartz
Instagram.com/SuperChartz
facebook.com/SuperChartz
twitter.com/SuperChartz
youtube.com/@SuperChart
Get TradingView Premium 👇
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Related publications
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.