As part of the forecast for October 8, we can expect further price movement in the borders of flat $6,743 - $6,370. The price can go to the lower border of the flat not immediately but stand at the current level. It will be possible to talk about the development of a directional movement after we see a way out of the flat in one direction or another. The directional ascending movement is worth considering after the flat upper limit, the resistance area is broken, and the price is fixed above the level of $6,840. The goal, in this case, will be growth to $7,300.
Alternative directional descending movement can be expected after the breakdown of the lower border of the flat, the support zone. In this case, we can expect a fall to the level of $6,145 and an update of the lows. However, taking into account the economic situation and growing volumes, this option can be considered unlikely, but it is not worth excluding, especially in the current flat state of the market.
As part of the forecast for October 8, we can expect further price movement in the framework of flat $240.00 - $203.00 and a decrease in quotations to its lower border. It will be possible to talk about the development of a directional movement after we see a way out of the flat in one direction or another. The directional upward movement is worth considering after the flat upper limit, the resistance area is broken, and the price is fixed above the level of $255.00. The goal, in this instance, will be growth to $307.00.
Alternative directional downward movement can be expected after the breakdown of the flat's lower border, support zone, and price fixing below $192.50. In this case, we can expect a fall to the level of $167.00.
As part of the forecast for October 8, 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 corridor $0.62800 - $0.43630. Until the boundaries of the flat are broken through, movement within it remains a priority. The beginning of the movement may occur from current levels, or after leaving the price slightly lower, to the level of $0.43630.
Cancellation of the development of the ascending correctional wave will be the breakdown of the lower border of the flat $0.43630, after which we can expect a change in the priority price movement for the downward, with the initial goal at $0.35700.
As part of the forecast for October 8, we can expect the continuation of the lateral movement within the settled flat of $120.600 - $110.150. It is worth considering that the designated flat zones are the closest and offered exclusively in the framework of the current situation. In the framework of the global daily movement, these boundaries are somewhat wider. Therefore, during the breakdown of the upper boundary of this narrow flat, we can expect an upward wave to the level of $127.500, within the global correctional flat of the D1 level.
Cancellation of the development of an ascending wave will be the breakdown of the lower boundary of the flat $110.150. After that, we can expect the development of a downward correctional wave to the nearest level of $103.500, within the global correctional flat of the D1 level.
