Yesterday’s movement continued until the London session opened today. An increase of up to $ 57 accumulated from the start of the increase from yesterday. This puts the current market in a resistance area for horizontal movement. In the Weekly timeframe for the last week a reversal candlestick has formed and like this week a bullish engulfing is created if today’s market price closes like that.
At the current price ditimeframe H1 the uptrend still dominates the market price, but the technical aspect sees that the resistance level in the trendline has been reached so far. Here is a sign that a possible withdrawal may occur. Especially if the current price creates a reversal of direction
However, the large gap of the resistance area between 1808.00- 1817.00 makes trading at this point need to be cautious. Because this is just the beginning
Therefore, looking from the market history for October and November, the mentioned area was once tracked when the price reached in the horizontal area. So here is the price of support and resistance that is closest today is at the level:-
R1: 1782.00
R2: 1788.00
R3: 1798.00
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S1: 1776.00
S2: 1770.00
S3: 1760.00
Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell. All these trades need to be done using the amount of "initial capital" that is willing to risk.
Finally, to see more active movement it is recommended to wait for trading opportunities in the evening. Have a safe trade.
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