Long term trend: Up
Medium term trend: Up
Significant levels: 120.00 (Significant Round Number and Support Line)
Recently, the price broke the 120.00 level, a significant round number. This indicated that the price really is in a strong uptrend. We can see in the price chart that the uptrend that formed in recent months is so steep. Bulls are really in control with this market now and there's no way we will trade this on the Short side.
120.00 price level is now our support. It is probable that the price will retest the 120.00 level and it would be great to see a bullish price action there. If the price rejected the support area, that would be the time our trade will be placed.
Trade well.
Medium term trend: Up
Significant levels: 120.00 (Significant Round Number and Support Line)
Recently, the price broke the 120.00 level, a significant round number. This indicated that the price really is in a strong uptrend. We can see in the price chart that the uptrend that formed in recent months is so steep. Bulls are really in control with this market now and there's no way we will trade this on the Short side.
120.00 price level is now our support. It is probable that the price will retest the 120.00 level and it would be great to see a bullish price action there. If the price rejected the support area, that would be the time our trade will be placed.
Trade well.