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Weekly price is on bearish market condition with below of 100-period SMA (100 SMA) and 200-period SMA (200 SMA):
- the price is trying to cross 54.27 key resistance level from below to above for the bear market rally to be started;
- if the price breaks 54.27 key resistance so the next targets will be 69.57 and 107.92.
- Nearest support levels are 46.22 and 42.18;
- Nearest resistance levels are 54.27 and 69.57.
Resistance | Support |
---|---|
54.27 | 46.22 |
69.57 | 42.18 |
- if weekly price
breaks 54.27 resistance so we may see
the secondary rally within the primary bearish market condition;
- if weekly price breaks 42.18 support level so the primary bearish will be continuing without ranging up to the new 'bottom' to be forming;
- if not so the price will be moved within the levels.