On the 4-hour chart, the instrument is moving towards the lower border Bollinger Bands. MACD histogram is in the negative zone, the signal line crosses the zero line and histogram’s body downwards, forming a sell signal. Stochastic has crossed the border with the oversold area downwards; the entry signal for the opening of the long positions is forming.
Key levels
Resistance levels: 16.29, 16.35, 16.41, 16.50, 16.62, 16.70, 16.75, 16.80.
Support levels: 16.20, 16.11, 16.08, 16.00.
Trading tips
Short positions can be opened at the current level with the target at 16.00 and stop loss 16.35.
Long positions can be opened at the level of 16.43 with the target at 16.62. Stop loss is at 16.35.
Implementation period: 1–3 days.
Scenario
Timeframe Day's Range
Recommendations SELL
Entry Point 16.29
Take Profit 16.00
Stop Loss 16.35
Support levels 16.00, 16.08, 16.11, 16.20, 16.29, 16.35, 16.41, 16.50, 16.62, 16.70, 16.75, 16.80
Alternative scenario
Recommendations BUY STOP
Entry Point 16.43
Take Profit 16.62
Stop Loss 16.35
Support levels 16.00, 16.08, 16.11, 16.20, 16.29, 16.35, 16.41, 16.50, 16.62, 16.70, 16.75, 16.80
Key levels
Resistance levels: 16.29, 16.35, 16.41, 16.50, 16.62, 16.70, 16.75, 16.80.
Support levels: 16.20, 16.11, 16.08, 16.00.
Trading tips
Short positions can be opened at the current level with the target at 16.00 and stop loss 16.35.
Long positions can be opened at the level of 16.43 with the target at 16.62. Stop loss is at 16.35.
Implementation period: 1–3 days.
Scenario
Timeframe Day's Range
Recommendations SELL
Entry Point 16.29
Take Profit 16.00
Stop Loss 16.35
Support levels 16.00, 16.08, 16.11, 16.20, 16.29, 16.35, 16.41, 16.50, 16.62, 16.70, 16.75, 16.80
Alternative scenario
Recommendations BUY STOP
Entry Point 16.43
Take Profit 16.62
Stop Loss 16.35
Support levels 16.00, 16.08, 16.11, 16.20, 16.29, 16.35, 16.41, 16.50, 16.62, 16.70, 16.75, 16.80