While the price is above the support of 1744.50, a resumption of an uptrend is expected. We make sure when the resistance at 1916.50 breaks. If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid. We will close our open trades if the Midterm level 1744.50 is broken.
Technical analysis:
A peak is formed in the daily chart at 1916.50 on 06/01/2021, so more losses to support(s) 1762.55 and minimum to Major Support (1744.50) are expected. Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains. The relative strength index (RSI) is 35.
Take Profits: 1762.55 1828.25 1875.15 1959.30 2075.05
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