MAJOR SUPPORTS: 80/81—77---75--73.5--70/71
MAJOR RESIATANCES: 87/87.5—90.5—92.6—95—99/100.65
After a sharp cut from 110 to almost 77 dollers, it had reached to a crucial support zone of $75-80. Also
on volumes front we had reducing volumes and on leading indicators like RSI we can see a positive
divergence. As a result we had a healthy bounce towards immediate resistance band $87-90 and then a
marginal cut towards $83. Now we have an inverted H&S on the cards having neckline in the range $88-
90. Trigger band is placed in the same range 88-90.5.
Confirmation criteria for Bulls-bears: It must hold 77-81 band and break above 88/90.5 on closing basis.
MAJOR RESIATANCES: 87/87.5—90.5—92.6—95—99/100.65
After a sharp cut from 110 to almost 77 dollers, it had reached to a crucial support zone of $75-80. Also
on volumes front we had reducing volumes and on leading indicators like RSI we can see a positive
divergence. As a result we had a healthy bounce towards immediate resistance band $87-90 and then a
marginal cut towards $83. Now we have an inverted H&S on the cards having neckline in the range $88-
90. Trigger band is placed in the same range 88-90.5.
Confirmation criteria for Bulls-bears: It must hold 77-81 band and break above 88/90.5 on closing basis.
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