After the impressive movement we saw on Thursday, 23 May 2024, where prices hit our targets precisely, we might expect a more relaxed trading session on Friday, 24-May-2024. However, we should be ready for various scenarios. Here’s our plan:
Gap Up Opening
Above 23000: If prices open above 23000, they might face resistance near 23059 and trade sideways.
Above 23060: Prices can rise towards 23142.
Below 23000: Prices might find support at 22917-22897.
Below 22880: Look for support at 22803-22800.
Flat Opening
Support at 22915-22897: If prices open flat, they might first take support here.
Upside: After finding support, prices can move towards 23000-23059.
Below 22880: If this support fails, prices could drop towards 22800.
Gap Down Opening
Below 22880: If prices open below this level and stay there for the first hour, expect a drop towards 22800.
Recovery above 22915: If prices quickly recover above 22915, look for a move towards 23000-23059.
Conclusion: While a sideways session is likely, be prepared for quick movements in either direction based on these key levels.
Disclaimer: Trading involves risk, and past performance is not indicative of future results. Make trading decisions based on your own analysis and risk tolerance.
Trade closed: target reached