PL is trading inside a well-structured ascending channel on the daily timeframe, confirming a medium-term bullish trend.
Price has recently pulled back sharply and is now reacting near the lower boundary of the rising channel, which also aligns closely with the moving average, making this area a critical support zone.
🟢 Bullish Scenario
• Holding above the lower channel support
• Successful defense of the 20–21 support area
• Upside targets:
• 26.0 – 27.5
• 30.0 (mid-channel / prior high)
• Upper channel near 35+
• A bounce here would signal trend continuation
🔴 Bearish Scenario
• Breakdown below the ascending channel
• Daily close below 20.0
• Downside targets:
• 17.5
• 15.0
• Would indicate a trend failure and deeper correction
🛑 Risk Management (English)
• Long stop: below 19.5
• Short confirmation: only after clean break & retest below channel
Price has recently pulled back sharply and is now reacting near the lower boundary of the rising channel, which also aligns closely with the moving average, making this area a critical support zone.
🟢 Bullish Scenario
• Holding above the lower channel support
• Successful defense of the 20–21 support area
• Upside targets:
• 26.0 – 27.5
• 30.0 (mid-channel / prior high)
• Upper channel near 35+
• A bounce here would signal trend continuation
🔴 Bearish Scenario
• Breakdown below the ascending channel
• Daily close below 20.0
• Downside targets:
• 17.5
• 15.0
• Would indicate a trend failure and deeper correction
🛑 Risk Management (English)
• Long stop: below 19.5
• Short confirmation: only after clean break & retest below channel
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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.
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.