W1 price is located below 200 period SMA (200 SMA) and 100 period SMA (100 SMA) for the primary bearish market condition for with secondary ranging within the following key reversal support/resistance levels:
- 1339.93 resistance level located near 200 SMA on the border between the primary bearish and the primary bullish on the chart; if the price breaks this level from below to above so the bullish reversal of the price movement will be started; and
- 936.98 support level located below 100 SMA/200 SMA in the bearish area of the chart; if the price breaks this level from above to below so the bearish trend will be continuing with a good breakdown possibility up to the new 'bottom' (new support level) to be formed.
By the way, the price is breaking 1077.19 support level for the 936.98 as the nearest bearish target.
If the price will break 1077.19 support level so the primary bearish condition will be continuing with the secondary ranging up to 936.98 as the next real bearish target.
If the price will break 936.98 support level so we may see the bearish breakdown.
If the price will break 1339.93 resistance level
from below to above so the bullish reversal of the price movement will be started.
If not so the price will be ranging within the levels.
| Resistance | Support |
|---|---|
| 1190.01 | 1077.19 |
| 1339.93 | 936.98 |
Trend:
