A Healthy Correction Narrow Range Trading between 2 neck line: 1. The upper side: 42.52 (Key Pressure Neck Line) 2. The lower side: 39 (Support Neck Line)
Key Pressure 1. 150 (half year working days) days Moving Average: 2. Key Pressure Neck Line: 42.21 is The Low price of 2015/08/24. We connect this point to the low 42.41 of 2015/12/02 forming a key pressure line.
Key Support: 1. Support Neck Line: 45.17 is Low price of 2015/01/14. When we connect it with the low price 42.21 of 2015/08/24 forming a support neck line. 2. 22 days(monthly) moving average. 3. Down Trend support Line: 2015/05/06 High 69.61 connect with 2015/10/09 High 54.09 forming a major down trend support line.(Pressure become support)
Re-Testing the support side on Tuesday, get a good support above the Support Neck Line. Maybe it will be another range trading next week, retest the upper side and retest the lower side.
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