Support : 9000 & 9300 | Resistance 9700 & 10000 | Range : 9350.10 — 9538.75
- Currently consolidate around 9500 area, if the price action manage to get above that level, the next stop might be around 9700 area which could be a heavy resistance area.
- Fall below 9300 (recent low) might get a high possibility for price action to retest 9000 area. if 9000 cannot hold, the next important support around 8500 area.
- Low volatility expected during weekend. I personally dont expect much movement during these days but cannot not ignore the possibility of sudden price changes.
- Indicators on 4 hour show a possible bounce by looking at the decreasing seller volume/bearish momentum from across my indicators (Stoch RSI, RSI, DMI & OBV). See the red line made a higher low so far ( and lower high on -DI (seller power/red on DMI).. if it could maintain that behavior i expect a bounce toward 9700 is more likely IF the price action do follow the same behavior as the indicators.
