3.2 Double Bottom Analysis
The double bottom formed in 1947, located below the MA7 and MA30, with moving averages in a bearish alignment, indicating a short-term weak trend. Recently, the high point was 2054 and the low point was 1906. Currently, it is near the lower boundary of the range, with support levels at 1920-1906. Resistance levels are first at 1968, then at 1985-2000. The 1-hour candlestick chart shows repeated fluctuations between bulls and bears, with insufficient rebound strength. If it breaks below 1906, it may further decline to test the strong support at 1840. Middle Eastern ge
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