The local downtrend line does not allow the price to move upside. It is a barrier for the buyers, and the price action in this zone is very important.
If the price bounces, it will be possible to see a downside movement to 196.50USD and 190.00USD support. The reversal signals from this zone will be good for buying with stops below 190.00USD and the local swing low.
If the price can break the downtrend line, it will confirm the strength of buyers. We will have a buying opportunity with stop orders below SMAs and the 1st profit target at 215.00USD. The breakout above 215.00USD will open the road to 228.00USD resistance.
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Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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The 1st target was reached! What's next? The price can bounce from the resistance and we will get a pullback. If the price breaks 215USD, we will see a possible upside movement to 220USD and 228USD. It will be very good for the market.