06 Nov Wednesday View

Price is within a range it fell on Friday of 31850 (USD 1320) and 31475 (USD 1305), so obviously now it needs to break either of these to proceed ahead in that direction. Price is trading slightly below the 150 SMA in H4 and below the 38.2 % fib of 34560 (USD 1433) and 30173 (USD 1251) at 31850 (USD 1320) and this level has been tested once recently and proved to be a resistance. RSI is somewhat supportive of some upmoves but that could just be a correction of the fall from 34560. Price needs to break 32365 (USD 1342) level to convince strong further upside movements. Until then it is considered corrective and wait to see if the price tests further lows.

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