Weekly price is on primary bearish with secondary ranging between 15.47 support and 17.75 resistance levels. The price broke triangle pattern for downtrend and stopped near 15.47 support:
- triangle pattern was broken for downtrend and price was stopped with 15.47 support level for the bearish condition to be continuing;
- next support level as a target to be broken is 15.26;
- Nearest support levels are 15.47 (W1) level, 15.26 (W1) level and 14.36 (W1) key support level;
- Nearest resistance levels are 17.16 (W1), 17.75 (W1) and 18.46 (W1).
| Resistance | Support |
|---|---|
| 17.75 (W1) | 15.47 (W1) |
| 18.46 (W1) | 14.36 (W1) |
- if weekly price
breaks 17.75 resistance so we may see
the secondary rally within the primary bearish;
- if weekly price breaks 15.47 support level so the primary bearish will be continuing;
- if not so the price will be moved within the channel of 15.47 and 17.75 in the secondary ranging market condition.
