🔥
November 2
First, the resistance levels that, if the price closes a two-day candle above them, it should move to the next one:
🔴 First resistance: 78500
🔴 Second resistance: 79600
🔴 Third resistance: 81200
🔴 Fourth resistance: 82400
🔴 Fifth resistance 83800
🔴 Sixth resistance 85000
🔴 Seventh resistance 87300
Second, the support levels that, if the price closes below them with a two-day candle, it should fall to the next one:
🟢 First support: 76200 weak
🟢 Second support: 73800 moderate
🟢 Third support: 72400 strong
🟢 Fourth support: 70000 very strong
(73800–72400 support zone is a good buying area)
⚫️ Uncertainty zone: 79500 to 77800
(A daily close above its upper boundary sends the price up to the next resistance, while a close below its lower boundary sends it down to the next support.) The price fluctuates between these levels.
🌊 The low of the upward wave so far is 72400, and we are now inside a distribution zone. Please be cautious.
⚠️ Important numbers for you, dear trader 👇
☘Safety means holding the 77800 level☘
☠Risk means losing the 76200 level☠
📉📈 Market condition: exit zones.
🚨 Overall condition:
🔴 The market is in a distribution phase; we may even see a wick down to 70800. The rebound target is around 81200, God willing.
🕰 The bottom has not yet been confirmed, and we are waiting for another drop 🔴
💭 Our personal view, not a recommendation:
Bearish fluctuation zones, unsuitable for long trades or buying this week. It is preferable to wait for better buying zones at 72400–73800.
🟢 Monthly support 72400
🔴 Monthly resistance 78300
🟢 Weekly support 74900
🔴 Weekly resistance 81200
🟢 Daily support 76600
🔴 Daily resistance 81200
🟥 Overall market condition: bearish 📉
🖋 Analysis by:
Dr. Arwa
and Professor Ibrahim