As part of the forecast for October 11, we can expect further price movement in the framework of the flat of $6,743- $6,470. Until we see an effective attempt to go beyond the current consolidation, a systematic movement up and down from its borders is considered 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 11, we can expect further price movement within the flat $240.00 - $212.00. Until the boundaries of the flat are broken through, a systematic movement up and down from its borders remains in priority. The continued decline in quotations to its lower limit of $220.00 may occur from current levels. If the price, from the current positions, goes up again, to the upper bound of the flat of $223.00, it will be possible to talk about the next narrowing of the range of consolidation and consider further movement in the flat within an even narrower range. Recall that it will be possible to speak about the development of the upward movement only after the breakdown by the price of the resistance level of $255.00. 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 11, 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 flat bottom $0.43630, after which we can expect a change in the priority price movement for the downward, with the original goal at $0.35700.
As part of the forecast for October 11, we can expect the continuation of the lateral movement in the framework of the current consolidation of $118.000 - $110.150. Continuing the development of the upward movement to the upper flat can be expected from current positions. We can not possibly be able to see the growth to the very zone of resistance and deep into it, because, when testing the boundaries of Ichimoku Kinko Hyo Cloud $115.285 - $114.970, growth may slow down or even turn around. We remind you that at the moment we have several flats, levels H4 and D1, nested one within the framework of another. Therefore, during the breakdown of the upper boundary of this narrow accumulation, we can expect an upward wave with a target at 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.
