A significant level of support (20500) is again being tested... The biggest test the level has had so far.
Up to now every test of the 20500 level has seen a quick 'touch and go' reaction, where supply has very quickly hit demand (waiting buy orders) and price has bounced away with strong momentum.
This time looks very different and suggests that the demand in...
I think that the range of 22000-23000 will not last long.
Following the course,
July 2: It penetrated down 22000 that is the neckline of the blue double bottom.
July 5: It was bounced back by YPP (P) and returned to the range.
July 9th and July 12th: It went up as attacking the short entry on July 2nd while swinging around.
After the movement of attacking...
For discussion purposes only ;) what are the odds of having a long-term double top/M-pattern being formed? Current short term C wave shows already some weakening price action. The 15 min starts a corrective move, that will in itself create an hourly bearish move down. There is still a huge run to go on the weekly to have a confirmation of the M patter, but if...