Short-term Outlook (1–4 Weeks):
• Analysis: Oversold stochastic oscillator showing bullish crossover potential. Price approaching strong historical support near $90–$95. Candlesticks indicate seller exhaustion.
• Trade Direction: Long
• Confidence Score: 75% (Bullish reversal likely)
Medium-term Outlook (1–3 Months):
• Analysis: Significant correction from recent highs (~$150). Price action likely to consolidate near current levels. Bullish divergence forming on weekly indicators suggests recovery rally could target resistance at ~$110.
• Trade Direction: Cautiously Long (Target: $110)
• Confidence Score: 70% (Possible consolidation then bounce)
Long-term Outlook (6–12 Months):
• Analysis: Strong multi-year uptrend intact despite deep retracement. Price well above multi-year support levels (around $75–$85). Long-term fundamentals and weekly chart suggest continuation of bullish long-term trend after current correction completes.
• Trade Direction: Long (Buy-and-hold)
• Confidence Score: 80% (Bullish long-term trend intact)
Trade Summary:
• Short-term: Long from current oversold levels ($93).
• Medium-term: Hold/add positions targeting recovery to $110.
• Long-term: Maintain bullish stance targeting previous highs ($130–$150) over 6–12 months.
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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.