Midterm forecast: 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 trough is formed in the daily chart at 1750.55 on 06/29/2021, so more gains to resistance(s) 1828.25, 1848.50, 1875.15, and maximum to Major Resistance (1916.50) is expected. Price is above WEMA21; if a price drops more, this line can act as dynamic support against more losses. The relative strength index (RSI) is 50.
Take Profits: TP1=1762.55 TP2=1828.25 TP3=1875.15 TP4=1959.30 TP5=2075. 05
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