While the price is above the support 272.650, resumption of uptrend is expected.
We make sure when the resistance at 630.500 breaks.
If the support at 272.650 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Trading suggestion: There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (393.550 to 309.100), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (393.550)
Ending of entry zone (309.100)
Technical analysis:
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 20.
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 475.300 TP2= @ 553.100 TP3= @ 630.500 TP4= @ 729.300 TP5= @ 864.550 TP6= @ 970.425 TP7= @ 1151.600 TP8= @ 1229.700 TP9= @ 1415.950 TP10= Free