60 0 2
The Daily trend is in an Uptrend technically indicated by following:
• Price is currently trading above the uptrend trend-line.
• Higher tops and higher bottoms.
RSI is ABOVE the equilibrium level - 50 BUT with a bearish divergence.
Bearish Scenario:
With a break (daily close) below the support level S1 at 101.47, we will recommend SHORT POSITIONS for the no position holders on MasterCard. Take profit at 95.05 S3 and stop loss should be a bit above the 102.00, thus the stop loss is at 102.50 area.
For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above.
Bullish Scenario:
While sentiment remains unclear, it is better for long position to wait for a break above the resistance area of 130.30 R1. Then long strategy will be with take profit at 105.50 R2 and stop loss a bit below the R1.
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