As it can be inferred from the chart, the price has been on a bullish run since the beginning of February. As per usual, after a strong impulsive move, a correctional move is highly possible. Therefore, we are patiently waiting for the price to touch the zone of resistance identified on the chart once again, before we aim towards opening SELL positions and targeting the illustrated zone of support that nicely lines up with 50% Fibonacci retracement level.
Happy trading, everyone!
Happy trading, everyone!
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.
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.