As a new low has been reached, many people are beginning to question whether we have finally reached the bottom… The trick is to have patience. Wait until the weekly candle has finished burning, at the very least. The same is true for the present and the near future. When a move first begins to take shape, there is a delay before it emerges in its completed state. Because we have been anticipating a significant collapse such as this one for a considerable amount of time, we are able to claim that the bottom has not yet been reached and that there is still more to come. The secret is to be patient…

The support rests at 30033.4 with resistance at 30242.7 which the price is above the Pivot Point at 30142.9 located between the lines. The EMA of 10 is moving in a slight bullish bias, and it is below the EMA of 100 and 200. Both EMA of 100 and 200 are moving downward at the same point. The RSI is moving toward the level of 50, the MACD histogram is in positive territory with upward signals. The Stochastic is in high range zone with a crossover sell signal. The ADX indicating a downtrend signal.
The price is inside the Ichimoku Cloud and the Chinkou Span is faraway the market price. The Tenkan-sen and the Kijun-sen are both showing a downtrend.

• There is resistance at 30242.7, followed by resistance at 40030.9 and 40104.
• There is support at 30033.4 Below, there is 30352.2 and 30561.5.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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