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834
W1 price is near and below 200 period SMA
(200-SMA) and 100 period SMA (100-SMA):
- the price was crossed 200-SMA on close weekly bar and came to the primary bearish area of the chart;
- price is ranging between 23.6% Fibo resistance at 90.62 and Fibo support level at 87.43;
- descending triangle pattern was formed by the price to be broken from above to below for the possible bearish breakdown;
- RSI indicator is estimating possible bearish breakdown.
If the price will break Fibo support level at 87.43
so the primary bearish trend will be continuing.
If the price will break 23.6% Fibo resistance level at 90.62 from below to above so we may see the reversal of the price movement to the primary bullish market condition.
Trend:
