On the H4 chart, the price is moving down strongly
along with a bearish trend and every time the price touches the upper line of
the channel as a resistance hurdle, the supply pressure increases and a
reversal is seen. On the other hand, below the bearish trend line the price is
moving upward inside a secondary bullish channel. If the lower line of the
channel around $1275 is broken below, we are expecting the slid to be
continued. And of course on the other hand if the $1310 resistance level is
broken up strongly, a price development is in place as an assumption.
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