50-51 region has been a major demand zone in 2019, being tested three times.
4th test is on the course. This trial is a bit different than the others technically, as we have almost full weekly candle with a small wick.
Selling pressure is quite heavy backed by the coronavirus concerns.
I expect a test of ascending support line (2) around 48-49 level this week.
4th test is on the course. This trial is a bit different than the others technically, as we have almost full weekly candle with a small wick.
Selling pressure is quite heavy backed by the coronavirus concerns.
I expect a test of ascending support line (2) around 48-49 level this week.