We are still moving according to that Dec , when we had a similar drop (in size). Since it is moving sideways again, i am going to zoom in with my analysis until we see a break of the 3700/3850 range. It is still most likely to see another drop before we move up again, but a good strong break of 3850 could change that. Normally the chances to move up again, before making a lower low first, is like 20%. However, the longer this takes, the bigger those chances become. Because it is almost starting to look like it doesn’t want to drop. Increasing the chances for a .
So even if we see a drop to 3700ish, but see a big bounce from that level, the could be real. But be aware, in Dec it also looked like a good , but it was unable to break that red resistance.
Short term, we have a resistance at 3810/3820, if that breaks, we could see something happen. On the low side we have a support around 3770/60.
So the bigger range is 3700/3850, the range inside of that is 3820/3770.
For the bigger picture view, please read my previous analysis.
Previous analysis:
Published at Wed, 27 Feb 2019 02:41:10 +0000
