Midterm forecast: . While the price is above the support 15.015, resumption of uptrend is expected. . We make sure when the resistance at 18.880 breaks. . If the support at 15.015 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis: . The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased. . While the RSI uptrend #2 is not broken, bullish wave in price would continue. . A trough is formed in daily chart at 16.500 on 07/16/2020, so more gains maximum to Major Resistance (18.880) is expected. . Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index (RSI) is 59.
Trade Setup: We opened 5 BUY trade(s) @ 17.713 based on 'Valley' entry method at 2020.07.21.