Could also see price falling briefly below 1200 this week and then buying strength gonna show up after that. Likely to see a strong push to $1300 and then to $1350 when 1200 level is broken.
Comment:
UPDATE: Price failed to break above 1220 and took the alternate path - to the downside as also projected. Thus we now have a better entry at 1198. It is imperative that we see 2 consecutive bull candles closing above 1198 for entry. Same exit target.
Comment:
UPDATE2: Still no buyers coming in but the chart created another important level for potential long entry :- at above $1190 (revised down from $1198 prev.). By following patiently over a time period we can get the right entry and not catching the bottom of the trend and get stopped out several times.
Order cancelled:
No buy entry since. Will have to see 1190 break until then we are not going to see buys.
