Technical Analysis: Key Levels After 400-Pip Drop

Technical Analysis

Yesterday, the price dropped approximately 400 pip and reversed at its support level. Today, the price is expected to test 21,200. A break below this support level (21,200) could extend the bearish trend toward 20,990.

However, if the price stabilizes above 21,200 with a 4-hour candle close, it could push higher toward 21,400. Stability above 21,400 would support a bullish move toward 21,535.

Key Levels:
Pivot Point: 31350
Resistance Levels: 21400, 21535, 21620
Support Levels: 21160, 20990, 20860


Trend Outlook:
Consolidation between 21200 and 21395
Bearish Momentum by stability below 21200