Price formed successively lower peaks and kept permanently under 50SMA - a negative signal. Currently the price finds support in the area of the previous bottom of $2321. The next level of support is in the area around the 23.6% Fibonacci retracement, which if broken negative moods is strengthen and will most likely see a decline to 38.2% Fibonacci retracement and 200SMA.
Indicators:
Demarker - located in neutral territory
Demarker Sequential - the indicator began counting which indicating that the bearish momentum is still in force.
Volumes - volumes are below average and did not give a signal for increasing sales or purchases
Source: Bloomberg
Jr Trader Petar Milanov
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