As part of the forecast for October 4, we can expect a deeper price movement down to the lower boundary of the support area of $6,330, where we probably see a bounce and an attempt to develop an upward movement. The initial goal, in this case, will be to update the highs at $6,659, and then rise to $6,840.
Cancellation of this will be unsuccessful testing of the support area and, as a result, its breakdown. In this case, we can expect a fall to the level of $6,145 and an update of the lows.
As part of the forecast for October 4, the priority is to wait for the development of the upward movement, in order to update the nearest highs at $238.50. If this happens, we can wait for further growth with a goal of $255.00. The buyers may seize the initiative after the price moves down to the lower limit of the support zone of $202.30, or from current levels.
Cancellation of this growth will be faling of prices and stopping below $202.30. In this case, it will be possible to wait for the downward movement and further updates of the minimum, with the goal at the lower border of the support zone $167.00.
As part of the forecast for October 4, we can expect the continuation of the lateral movement within the framework of the settled flat and the development of the next rising wave to the upper limits of the $0.62800- $0.59650 corridor. The beginning of the movement may occur from current levels, or after the price goes a little lower, to the support zone.
Cancellation of the development of an upward corrective wave will be a fall to the support level of $0.43650. In this case, we will need to closely monitor the price behavior at this level, since updating this minimum and fixing the price below will speak about the development of a downward movement, and a bounce will only mean an expansion of the flat zone.
As part of the forecast for October 4, we can expect repeated attempts by sellers to get below the lower limit of the ascending daily channel at $112.800. As long as this border is not pierced at the appropriate volumes, the development of the continuation of the upward movement is in priority, therefore, after the retest of the support zone, we can expect an increase in price with an intermediate goal to update local maximum at $122.000, and then consolidate above $127.500.
Cancellation of the growth will be a breakdown of the price of the lower boundary of the upward daily channel and fixing it below the minimum of $107.800. In this case, we should expect further reduction of quotations in order to update local minimum at the level of $104.200.
