Hello, traders.
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The key is whether it can find support near 68393.48-69031.99 and rise above 71280.01.
If not, and it falls, you should check whether it finds support near 65920.71-67414.39.
You should check if the StochRSI indicator is rising in the oversold zone and if the StochRSI EMA falls below 50 and changes to the state of StochRSI > StochRSI EMA.
This is because you should check at what point support and resistance are received when the state of StochRSI > StochRSI EMA changes.
That is, if it shows support around 68393.48-69031.99, it is because it is a time when additional purchases can be made.
If it shows resistance around 68393.48-69031.99, there is a possibility of another decline.
This is because if you refer to the previous movement of the StochRSI indicator, it can lead to a movement similar to a double decline.
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Since it touched the BW (100) section (68393.48-69031.99), it is better to approach it from the perspective that it will basically fall.
However, if it shows a price maintenance in this BW (100) section and the StochRSI indicator shows an upward movement in the oversold section, the possibility of additional increase increases.
Therefore, you should check whether additional purchases can be made by checking whether there is support near 69031.99.
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Volatility may occur depending on the location of the StochRSI indicator.
- When the StochRSI indicator falls in the overbought section
- When the StochRSI indicator is near the 50 point
- When the StochRSI indicator rises in the oversold section
Volatility may occur in the three areas above.
Due to this volatility, you can know how the movement will proceed in the future by checking whether there is support at the support and resistance points drawn on the chart.
