- Prices have recovered after the single day 200 point drubbing.
- This recovery has taken prices all the way up to the upper boundary of the resistance zone marked in last post (5600-5685).
- Now should prices break out from this supply zone, we have next one right after this, between 5750-5900.
- I am not sure at this point about what may happen if we enter this new zone 5750-5900, but it might tilt the balance in favor of the bulls.
- Of course a confirmation of a trend change would come once we break out from the slanting TL just above the blue box on the chart above.
- It would be very interesting to watch the prices if they reach the 5750-5900 band.
- Right now, till we take out 5685, there is a chance that sellers may return.
- Above 5685, we may test the upper boundary of the 5750-5900 band.
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