mql5

Daily price is located near SMA with period 100 (100-SMA) and below SMA with the period 200 (200-SMA) ranging with waiting for direction for the possible breakout or breakdown. The key support/resistance reversal levels are the following:

• 2103.93 key resistance level located above 100-SMA/200-SMA in the bullish area of the daily chart, and
• 1988.96 key support level located below 100-SMA/200-SMA in the beginning of the bearish area.

RSI indicator is estimating the bearish market condition with the secondary ranging.

• If the price will break 2103.93 resistance level so we may see the bullish trend to be started on this timeframe.
• If price will break 1988.96 support so the bearish trend will be continuing.
• If not so the price will be ranging within the levels.

Resistance	Support
2103.93	1988.96
2116.27	1863.63

• Recommendation to go short: watch the price to break 1988.96 support level for possible sell trade
• Recommendation to go long: watch the price to break 2103.93 resistance level for possible buy trade
• Trading Summary: ranging

SUMMARY : ranging

TREND : bearish