200 EMA acting strongish price over the last few weeks have made many systemic attempts to break this but the bears have denied the bulls, however it is heartening to a cluster of supports due to some rangebound behavior. Supports at 9.80 where ema 50 sits and then another support at around 8.80-9 which was the april 15th low and closing price respectively. If 10.40-10.50 breaks decisively our first target will will be between 11.29-11.70 where 11.20 was the swing high made on 25th Feb which was coincidentally a rejection of the 200 ema resistance, 11.70 is a crucial level as well as it was the closing price on oct 24th 2018 which was one candle before the relentless downtrend began
Kommentar:
next major support at 8.98 markets dragging down everything formation of a golden cross is in question now