And then when the next support level is breached?
“And then when the next support level is breached?”
Whenever a support level is breached it usually means it will go down further to the next support level.
Support and resistance levels are determined by where it was trading before in the past. Once a support level is breached then it becomes a resistance level.
There are also moving averages that are resistance and support levels.
“And then when the next support level is breached?”
It’s current support level is from March - April of 2014 which is around 16,000, resistance above is around 16,350.
If it breaks support at 16,000’ ish next support level is around 15,750; strong support there. Next level of support is around 15,200....
Keep in mind as it goes thru a support level that support level then becomes resistance on the way back up.
and it does appear to be headed south by several indicators, one being money flow. Which indicates if money is going in or going out of the market.