Refer to chart. Thick lines = strong support
The appointed price is a level with highly likelihood of return to
The appointed price is a level with highly likelihood of return to
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If the thick red levels are broken down, its a quite bearish sign
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Strong support 6315 level is broken, hence trying to play on the long side is still very dangerous, the trend is still down.
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Two likely scenarios. Orange arrows is what I find most likely
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Looks like main scenario playing out so far
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At 7079 sell can be launched
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Selling at 7079 has become more risky as levels below have been "closed". At the upper side, levels are open. Advice is to await for market to break either up or down and enter level pullbacks
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Both 6702 and 7079 must be visited. A new nice setup may be formed.
Trade fechado: objetivo atingido
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Also the level indicated should be visited;
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6640. Price travelled 1440 x 2 price degrees from the low. Each 1440 degree represents a significant resistance.