As we see from the previous chart, prices managed to test the support zone at 46400-650 last Friday, which led to a rebound as the market moves closer to the target and resistance of 47450.
The resistance at 47450 could push for a drop towards 46850.
As long as the market remains above the support zone of 46400-650, the advance wave could sustain towards 48000 and above.
Below 46400, more of a drop towards the 45400-500 zone will be expected.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 46845 | 47450 |
| LEVEL2 | 46400 | 48000 |
| LEVEL3 | 45850 | 48500 |
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