As long as the indicator is above the green resistance zone and the resistance trend line is not consolidated, the continuation of the downtrend is likely. If the strong indicator breaks through the mentioned resistance zone, a long-term uptrend will be formed.
It is expected that the price will consolidate below the trend line and continue the downtrend to the specified support levels. In this case, a three-wave pattern will form.
Given that there is a possibility of a triangle pattern forming, it is expected that the price will change direction at the current resistance level and a downtrend will begin. If the price consolidates above the green resistance level, the uptrend will likely continue.
It is expected that the downtrend will continue to form until the specified support levels. Then there is a possibility of a trend change and the start of an uptrend. If the price breaks through the support area, the downtrend will continue to the next support area.
As long as the price fluctuates above the support trend line, the continuation of the uptrend is likely. If the price crosses the support trend line, it will be a confirmation of the downtrend and the start of a downtrend or correction is likely.
Given the price behavior within the current resistance range, possible scenarios have been identified. It is expected that after some volatility and correction, we will see a continuation of the upward trend.
The uptrend is expected to move in the specified direction and advance to the specified targets. If the indicator does not consolidate above the current resistance level, there is a possibility of a double-digit combination pattern. Then a correction is likely.
The corrective pattern is expected to move along the specified path and, after reaching the time frame, a trend change is expected to occur.
A triangle pattern is expected to form within the current support range. Then the start of an uptrend is likely. If the price breaks through the 78.6% level, a continuation of the correction and downtrend is possible.
As long as the indicator does not stabilize above the green resistance area, there is a possibility of a trend change and the start of a downtrend.
The uptrend is expected to end at the resistance level and begin a downtrend. A break of the support line will confirm the downtrend. If the price breaks through the green resistance level, the above scenario will be invalidated and the uptrend will continue.
As long as the price does not stabilize above the green resistance area, there is a possibility of a trend change and the start of a downtrend.
A trend reversal is expected at the green resistance area and the downtrend is expected to continue. With a consolidation above the resistance area, the above scenario will be invalidated.
A trend reversal is expected at the current resistance level and a downtrend is expected to begin. A break of the support line will confirm the downtrend. If the price breaks through the resistance level, a continuation of the uptrend is likely.
It is expected that a trend change will take place within the current support area and we will witness the start of an uptrend. Then, the uptrend will continue to the identified resistance area.
It is expected that the triangle pattern will form according to the specified direction and then we will see the start of the upward trend. If the index breaks through the support area and consolidates, the continuation of the downward trend is likely.