On the daily chart , the level of 1240 is an important support, (purple horizontal line).
On smaller time frame, price has reversed from this level , after a small one month consolidation.
The breakout candle following the consolidation is also supported by a good volume and steep rise in atr.
Thus, there is a short term trade
tgt 1348, sl 1270.
On smaller time frame, price has reversed from this level , after a small one month consolidation.
The breakout candle following the consolidation is also supported by a good volume and steep rise in atr.
Thus, there is a short term trade
tgt 1348, sl 1270.
Trade closed: target reached
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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.