5 weeks of red candles. It probably near the bottom for a bounce.
Below is a possible Elliot wave movement if the low holds.
If this monthly candle close below the mid of BB, Bulls could be in trouble unless there is a strong reversal. Breaking 40 could be a reality soon if bulls could not hold this support.
Below is a possible Elliot wave movement if the low holds.
If this monthly candle close below the mid of BB, Bulls could be in trouble unless there is a strong reversal. Breaking 40 could be a reality soon if bulls could not hold this support.
Daily support/resistance on 26th Jun: 43.07, 42.87
Weekly support/resistance from 26th Jun - 30th Jun: 43.67, 43.34
Weekly support/resistance from 26th Jun - 30th Jun: 43.67, 43.34
Monthly support/resistance for Jun: 48.38, 47.88 (CLN7, 48.44, 48.07 ; CLQ7: 48.68, 48.34)
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
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