37854 is our pivot
Predictable scenario: as long as the resistance at 37854 holds, we can point towards 34556
Alternative scenario: exceeding 37854 would lead to an extension towards 39794
Analysis: The RSI stands below the 50-point equilibrium line. The MACD is positive and hovering below its moving average. For further declines to be expected, the MACD will have to give up the zero line. Observe that the volumes have been on the rise for a few days.
Supports and resistance:
39794 **
39070 *
37854 **
37376
36840 (last trade)
35276
34556 **
33835 *
33115 **
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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
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