strong support (blue line) is getting touched by the chart. on the other hand, the bottom line of the uptrend channel is being touched. so, an uptrend to the green zone can be expected which is a reliable resistance as our target.
Note
last day of the week we got our target. if we look at the current position of the chart, It is quite clear that there is a strong resistance zone (green line) that is aligned to the upper side of the channel. so there are two possibilities, 1st one is that the chart touches the zone after, bounces there, and reject toward down. 2ndone is that the chart passes the zone, gets back to the zone and after retesting the zone, bounce there for a while, continues to go up.Trade closed: target reached
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.