The price bounced from the 44.50 support level. RSI and MACD histogram confirmed the price reversal. MACD lines support the upward movement. DMI is bearish with the falling ADX line. It tells us that we should not expect strong bearish movements. At the same time, the price breaks the local swing high - it's an additional confirmation that the market is going to move upward.
The market gives buy opportunity with an entry level above the local swing high. It's 46.00 level. Stop orders must be placed below the support level. Profit targets are at the resistance levels.
The market gives buy opportunity with an entry level above the local swing high. It's 46.00 level. Stop orders must be placed below the support level. Profit targets are at the resistance levels.
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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.