The price hit the daily resistance and bounced from there. It is trading currently above the daily support as well as a smaller time frame resistance. By looking at the price action and the setup it seems a long is favorable here if the price can trade above this resistance for the current 4h candle. If that happens, the target should be the next resistance around 28225.
Trade closed: target reached
The price moved up as per expectation and aimed for the next resistance area. From there it was pushed back. Long closed on the first 15m red candle. We look for another setup in a new post.If you like the content and find value in the posted analysis, please give a like and if you want to get notified about any new idea posted, please follow this account. I also share ideas on twitter, so if you want to tune to that, please check my twitter account: twitter.com/angela_altair
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.