As part of the forecast for October 10, we can expect further price movement within the flat framework of $6,743 - $6,470 and the upper level, at which the price found new support. Until we see an effective attempt to go beyond the current consolidation, a smooth descent to the lower boundary of the narrowing flat, $6,550, is considered as a priority. The development of an upward movement is expected after breaking through the flat's upper border, the area of resistance, and the price fixing above $6,840. The goal, in this case, will be growth to $7,100.
Alternative directional downward movement can be considered after the breakdown of the lower border of the flat, the support zone. In this case, we can expect an update of the minimums and a breakthrough of the level of $6,350. The potential target for such a scenario would be $6,145.
As part of the forecast for October 10, we can expect further price movement within the flat $240.00 - $212.00. Until the boundaries of the flat are broken, the continuation of the decline in quotations to its lower limit of $220.00 is a priority development of the movement. A stop of a decline can occur when testing the lower boundary of the Ichimoku Kinko Hyo Cloud $224.70 - $223.00 and, if there is no next narrowing of the consolidation range, it will continue further. Do not forget that this consolidation occurs within a wider flat and an upward movement to its upper limit of $255.00, is to be expected after breaking through the upper boundary of the current consolidation. It will be possible to speak about the development of the upward movement only after the breakdown by the price of the $255.00 resistance level. The goal, in this instance, will be growth to $307.00.
An alternative wave of price reduction to the lower border of a wider flat of $203.00 can be expected after a breakdown of the lower boundary of the current consolidation. On the global resumption of the bearish trend can be talked after fixing prices below $192.50. In this case, we can expect a fall to the level of $167.00.
As part of the forecast for October 10, we can expect the continuation of lateral movement within the framework of the settled flat. While the boundaries of the flat are not penetrated, the development of the next rising wave to its upper region of $0.62800 - $0.43630 is considered as a priority. The beginning of the next rising wave may occur either from the current levels or after the price goes deeper into the support zone, up 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 10, we can expect the continuation of the lateral movement in the framework of the current consolidation of $118.000 - $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 fact, at the moment we have several flats nested within the framework of another. The H4 level flat has an approximate border of $122.000- $107.800. And within the global daytime movement, these boundaries are even wider. Therefore, during the breakdown of the upper boundary of this narrow accumulation, we can expect an upward wave to the level of $122.000, where, probably, there will be a stop of movement. And only then to $127.500 - the upper boundary of the global correctional flat of the level D1.
Cancellation of the development of an upward wave will be the breakdown of the lower boundary of the current consolidation of $110.150. After that, we can expect the development of a downward wave to the lower flat border level of H4 $107.800. After the breakdown of this area, further development of the movement down to the border of the global correctional flat of D1 $103.500 is likely.
