Alphabet Inc. market (NASDAQ:GOOG) has been experiencing a bearish correction since December 2021, until now. It is expected that the downward trend will continue, especially in case the condition mentioned below is fulfilled.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200.
The color that stands for each EMA is shown at the top left part of the chart.
The EMAs 10, 20 and 50 have already started sloping downwards, and the
only defence for bulls is the EMA 200. Once price crosses the EMA 200 to the
downside, then price would be expected to drop further. Otherwise, a bounce
would occur from here.
Actually, GOOG has the probability of testing the demand zones at 2700.00, 2600.00 and 2500.00 this year.
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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