1. General price trend:
Current price: 189.61.
Decrease in the last 24 hours: -2.72%.
The price appears to be moving in a slight downtrend after touching resistance levels near 201.98.
2. Technical indicators:
EMA (Exponential Moving Average):
EMA(7): 190.47 (very close to current price).
EMA(25): 192.21 (above current price, indicating bearish pressure).
EMA(99): 203.61 (much higher, showing a broader downtrend).
MA (Simple Moving Average):
MA(5) and MA(10) indicate a short-term but weak reversal.
3. MACD Indicator:
MACD line is at -0.71, below signal line -0.09.
The appearance of negative bars on the chart indicates the continuation of the downward pressure.
4. Volume:
The trading volume is relatively low, which means that the current trend may be weak or not supported by strong momentum.
5. Support and resistance:
Major support level: 175.26.
Strong resistance level: 201.98.
Expectation:
If the price continues below EMA(7) and EMA(25), we may see further decline towards the support level at 175.26.
If the EMA(25) breaks above, the price could start an attempt to test the resistance level at 201.98.
Recommendation:
If you are looking for a buy trade, wait for a bullish confirmation signal (such as a breakout of the EMA(25) or a positive MACD line).
In case of selling, selling can be considered on bounces towards EMA(25) with a stop loss placed slightly above the resistance at 201.98.
- Don't forget to do your own research DYOR