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Support/Resistance Channel Formed

April 23, 2018

Hi Traders.

 

Another short week on the cards this week as we finally start reaching the end of all of these public holidays. They tend to sometimes have an effect on the market which can be quite disruptive.

 

The price action was mainly in an upward direction last week, generally with quite a lot of bullish momentum except for the retracement that was made on Thursday.

 

The psychological level of 50 000 wasnt broken again and the price remained above it for now.