At this exact point, the chart shows: we are heading to lower levels. The reason I am saying this is: Both indicators are down-trending( lower highs)
and the main trendline( yellow) is still not broken.
On the other side: a Regular divergence appeared on the MACD indicator which predicts a possible trend reversal.
Based on this, I see 3 likely outcomes:
> If the support holds at 12.46 then we might go up a bit to 13.64
> The support holds and we also manage to break out from the current trend, then we might touch significantly higher levels such as 14.70 (the least likely outcome)
> If support breaks, then we might go to lover levels like 10.29
and the main trendline( yellow) is still not broken.
On the other side: a Regular divergence appeared on the MACD indicator which predicts a possible trend reversal.
Based on this, I see 3 likely outcomes:
> If the support holds at 12.46 then we might go up a bit to 13.64
> The support holds and we also manage to break out from the current trend, then we might touch significantly higher levels such as 14.70 (the least likely outcome)
> If support breaks, then we might go to lover levels like 10.29
