took a hard hit last Friday towards the 54.85 1D Support. Technically this makes a perfect Higher Low on the 1D Channel Up ( RSI
= 47.115, MACD
= 0.310, ADX
= 20.203, Highs/Lows = -0.4050). On top of that the 4H RSI
is on the lowest level since early August, so we are taking this as a strong medium term buy opportunity. Our Target Zone is 58.00 - 58.70 (region within the 4H gap fill and 1D Resistance).
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