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Price moves in the lateral direction (flat). Moving Averages show a downward trend as they are directed downward.
To further rise to the resistance level of $ 135.50, buyers need to fix the price above the support level of $ 112.50. Then you can open a long position.
If sellers break down support level of $ 112.50 then the price will drop to the level of support $ 103.50. In this case, you will need to open the long position here.
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Price moves in the lateral direction (flat). Moving Averages show a downward trend as they are directed downward.
To further rise to the resistance level of $ 135.50, buyers need to fix the price above the support level of $ 112.50. Then you can open a long position.
If sellers break down support level of $ 112.50 then the price will drop to the level of support $ 103.50. In this case, you will need to open the long position here.
_________________________________________
This analysis and more in our Telegram channel.
Also, don't forget to visit our profile.