The market dropped a lot with the help of a gap. Now the price is at the support zone. We got a reversal signal which had been confirmed by RSI and MACD histogram. The market forms a new swing low higher than the previous one. It gives us a buy signal.
The trading idea is - buy from the current levels or based on the breakout above the local swing high.
Stop loss orders must be placed below 28.50 level.
Profit target should be at 35.00 resistance.
Don't forget about proper money management.
The trading idea is - buy from the current levels or based on the breakout above the local swing high.
Stop loss orders must be placed below 28.50 level.
Profit target should be at 35.00 resistance.
Don't forget about proper money management.
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