The price is going to bounce from the uptrend line. RSI
is in the oversold zone and it confirms the price reversal. MACD
and DMI are still bearish
, but if the price breaks the downtrend line and 800.00 resistance level
, we'll get a good signal confirming the further upward movement. The uptrend line is the signal line. If the market can stay above this line, it will be a good support for buyers and we'll see reaching 1000.00 level very quickly.
Alternative variant: the price bounces from the downtrend line and breaks the uptrend line. If so, we should be ready to see the market falling to the support zone
formed by 500.00 support level
and the 2nd uptrend line. This zone will be good for buying too. Just we'll need to get strong signals confirming the price reversal.