The price reached the downtrend line. This zone is important for further price movement. If the market bounces from this downtrend line, we should closely watch for price action near the uptrend line. We'll need a price reversal from the uptrend line
for confirmation upward movement. Otherwise, the market will be able to drop to 400.00 support level. If the price breaks the downtrend line and moves above the cloud, we'll get a buy signal. Pending orders should be placed at 485.00 with stop orders at 390.00 level. Profit targets are 600.00 and 720.00 levels.
for confirmation upward movement. Otherwise, the market will be able to drop to 400.00 support level. If the price breaks the downtrend line and moves above the cloud, we'll get a buy signal. Pending orders should be placed at 485.00 with stop orders at 390.00 level. Profit targets are 600.00 and 720.00 levels.
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