Statistically, the strongest moves occur after a false-break-down.
We might see a break-up of the local resistance, but in that case the bulls will have to be tough to control the market.
MA-200 is a strong support
MA-50 is a resistance that might be tested soon.
Strong support: uptrend channel support at 3.758
Strong resistance: downside line, 4.840 level
I expect the end of the consolidation by break of the resistance and bullish momentum to 4.840, and then to 6.990.
Regards R.Linda!
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