After a long period of almost calm market, the price line could recently break above the technical resistance and is some ascending signals have been issued. As it shown in the price chart, Ichimoku cloud has been penetrated by the price line and is now placed below it. The red lines on the chart, represent a strong demand and a strong broken supply level. RSI is also reacting to a dynamic support level; therefore a bullish wave could be expected, heading to the resistance levels above the price line.
• There is a resistance level at 21500 followed by resistance at 22400 and 22755.
• There is a support level at 20200. Below, there is 20000 and 19950.
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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