Another bearish week, another closure below a key level on the weekly.
The close below 1917.318 is key because this was a previous level of support when looking back over the past 3 years. With this in mind, when we have seen the weekly candle close below this level there is a high probability of price driving down to 1873, with some resistance at the 1900 level due to it being a psychological level.
Overall, my bias remains bearish.
The close below 1917.318 is key because this was a previous level of support when looking back over the past 3 years. With this in mind, when we have seen the weekly candle close below this level there is a high probability of price driving down to 1873, with some resistance at the 1900 level due to it being a psychological level.
Overall, my bias remains bearish.