Rational:
1) Trend is up;
2) Prices bounced of support at 82.70 ;
3) EMA 50 crossed above EMA 200;
4) RSI bottoming at around 45%, with a positive reversal in place ( See Vertical gray lines);
5) Resistance(s): 84.10 - 85.90;
6) Support(s): 82.70 - 81.25;
Trading Implications:
Buy at market open;
Target (s): upper Channel with 85.90 to clear first;
Stop: on a 2 days close Below 82.7, or an 2% break below it being 81.05 ;
1) Trend is up;
2) Prices bounced of support at 82.70 ;
3) EMA 50 crossed above EMA 200;
4) RSI bottoming at around 45%, with a positive reversal in place ( See Vertical gray lines);
5) Resistance(s): 84.10 - 85.90;
6) Support(s): 82.70 - 81.25;
Trading Implications:
Buy at market open;
Target (s): upper Channel with 85.90 to clear first;
Stop: on a 2 days close Below 82.7, or an 2% break below it being 81.05 ;
Trade closed: stop reached
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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.