Forecast & Technical Analysis:
1. Support & Resistance:
Support Zone: 193.000 - 193.200, where price has shown consolidation and a potential breakout.
Resistance Zone: 195.800 - 196.000, the projected target area.
2. Projected Price Movement:
Price has broken above the 193.200 resistance zone, signaling potential upside momentum.
The forecast anticipates a pullback to retest the breakout zone before a bullish continuation.
A move towards 195.500 - 196.000 is expected based on price action and market structure.
3. Trading Considerations:
A buying opportunity exists on a pullback to 193.200, with a stop loss below 193.000.
If price sustains above 193.500, further upside movement is likely.
Trading Strategy:
Entry: Buy near 193.200 - 193.400 after a confirmed retest.
Target: First target 194.500, then 195.800 - 196.000.
Stop Loss: Below 193.000 to minimize downside risk.
1. Support & Resistance:
Support Zone: 193.000 - 193.200, where price has shown consolidation and a potential breakout.
Resistance Zone: 195.800 - 196.000, the projected target area.
2. Projected Price Movement:
Price has broken above the 193.200 resistance zone, signaling potential upside momentum.
The forecast anticipates a pullback to retest the breakout zone before a bullish continuation.
A move towards 195.500 - 196.000 is expected based on price action and market structure.
3. Trading Considerations:
A buying opportunity exists on a pullback to 193.200, with a stop loss below 193.000.
If price sustains above 193.500, further upside movement is likely.
Trading Strategy:
Entry: Buy near 193.200 - 193.400 after a confirmed retest.
Target: First target 194.500, then 195.800 - 196.000.
Stop Loss: Below 193.000 to minimize downside risk.
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.